"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."
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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. Eli specializes in Automatic trading strategies and systematic options trading strategies in futures market. He has been Series 3 license holder since 2005. Eli's is an avid reader, runner, and yoga practitioner.