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Gold prices may be at risk following another 40-year high US inflation print as the US Dollar and Treasury yields rally. A Dark Cloud cover looms over the daily XAU/USD chart.
Gold prices may extend lower if ISM data stokes fears of stagflation and bolsters bets on a hawkish turn at this week’s pivotal FOMC monetary policy announcement.
Gold prices are looking to third-quarter US GDP data to help set the stage for next week’s pivotal FOMC meeting. Chart positioning hints that a downturn may be brewing.
Gold price chart positioning hints a downturn may be ahead as worries about inflation crop up on Q3 corporate earnings calls, stoking Fed tightening speculation.
Mazhar Mohammad of Chartviewindia.in said unless Nifty50 bridges Friday's bearish gap zone of 16,509-16,535 level, the trajectory of the market shall remain on the downside.