Gold holds the high ground as Geopolitical tension and a weaker US Dollar show little signs of let up as the Year-End approaches. Will $2080/oz be reached?
Gold enjoyed a rally toward the $2050/Oz mark before facing some selling pressure as Fed rate cut expectations continue to sway back and forth. PCE data later in the week could prove key to where Gold prices end the week.
Gold’s attempt to break back above the $2000 mark was met with selling pressure today as US CPI data provided a somewhat mixed bag. Will the FOMC assist Gold bulls or are we in for further downside?
Gold’s failure to close below the $2020/oz support area yesterday prompting a retest of key resistance hovering at $2032/oz. Will the NFP print facilitate a new leg to the upside?