I'm looking at it more in the short term.
Is this a micro Bullish move in Gold or longer term?
"Today's breach above $1700 per ounce was a combination of minor dollar weakness and according to many analysts technical buying based on gold's oversold pricing. The real test will occur on Thursday, November 10 when the government releases its latest data on inflation vis-à-vis the CPI index for October. The Federal Reserve Bank of Cleveland's "Inflation Nowcasting" is still predicting that the CPI index will reveal that inflation in October is still projected to come in at 8.09%. However, there has been a slight decline in the November estimates which moved from 8.09% yesterday to 7.99% today. Although it is a fractional decline it might give the Federal Reserve the conviction it needs to see recent rate hikes are beginning to take hold." Gary Wagner
See what unfolds tomorrow night - Thursday in the US?
Cheers mb
Best looking weekly chart, page-1141
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Last
$13.87 |
Change
0.005(0.04%) |
Mkt cap ! $16.00B | |||
| Open | High | Low | Value | Volume |
| $13.85 | $13.97 | $13.78 | $18.47M | 1.330M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 24 | 9007 | $13.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.87 | 14623 | 52 |
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| Last trade - 13.39pm 15/07/2024 (20 minute delay) ? |
| NST (ASX) Chart |