"It's coming into critical support. If it holds right here, we can go higher," said Eli Tesfaye, senior market strategist for brokerage RJO Futures in Chicago.
"The inevitability of the rate hike is here so it's an accumulation of that," said Tesfaye about the reason for falling gold prices.
"No risk is coming into this market."
To see more of Eli's comments and to read the full article, click here.
Series 3 Licensed
Senior Market Strategist
Eli started his career in the futures and options market while he was in graduate school finishing up his MBA in 2003. While in school, Eli became increasingly interested in trading commodity futures. He has been Series 3 license holder since 2005. Eli reads on average three to four books a week on various subjects, mainly commodity futures or trading related publications. He is also an avid runner and yoga practitioner.