Monthly Review on Gold
Here it is for November. We played mainly the secondary stages of MS after NFP on Nov 3rd. Which brought Pivot Prayers into the game with buy strength on Gold and correcting the FOMC move. After that Gold kept its strength waiting for CPI that came below the expectations give another breed of rate hike slowdown and break of HTF bearish MS. A pullback in middle of the month occurred where we started to see low volume and volatility with expectation on economic data before Thanksgiving. Even though we had mixed data, FOMC meeting minutes on that day brought the same sentiment on slowdown of rate hikes in Dec. meeting. LV&V remained until 30th with JP speech that was neutral and talking about the slowdown and that gave more strength on the sentiment and kept gold bullish.
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