GOLD (XAU)
Updated
US inflation eased less than expected in September to 8%, and underlying prices excluding food and energy prices accelerated to a new four decade high
Core CPI gained at its highest annual pace in 40 years, rising 0.6% for the month and 6.6% for the year and Fed funds futures are now pricing in 75 bps in December, up from 50. Moreover, terminal rate expectations rose to 4.85% in March. As a consequence, the 10-year Treasury yield rallied to 4.080% while the 2-year yield was up to 4.535%. As measured by the DXY index, the US dollar dropped by 1% to almost 112.14 as risk sentiment returned to markets. At the time of writing, the DXY index is down by some 0.73% having fallen from a high of 113.92 to a low of 112.147 so far
Gold close to very important support level 1550-1500 and If it break down then we go back 1450-1400 support zone
1300-1200 is a good buy and long zone , my short position at 1940 is still open
Can bears break 1500 support zone?
Core CPI gained at its highest annual pace in 40 years, rising 0.6% for the month and 6.6% for the year and Fed funds futures are now pricing in 75 bps in December, up from 50. Moreover, terminal rate expectations rose to 4.85% in March. As a consequence, the 10-year Treasury yield rallied to 4.080% while the 2-year yield was up to 4.535%. As measured by the DXY index, the US dollar dropped by 1% to almost 112.14 as risk sentiment returned to markets. At the time of writing, the DXY index is down by some 0.73% having fallen from a high of 113.92 to a low of 112.147 so far
Gold close to very important support level 1550-1500 and If it break down then we go back 1450-1400 support zone
1300-1200 is a good buy and long zone , my short position at 1940 is still open
Can bears break 1500 support zone?
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Its time to take some profitNote
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gold still super bullishNote
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ready for correction
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correction time, and here we GO..
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easy short
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1960 is coming
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Trade active
Trade active
time to long
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