16-Nov-2023
Gold Bulls are Back
Fundamental Punchline - Recent weak US inflation data hurt chances of another US interest rate hike in December. In the US,
consumer prices rose 3.2% y/y in October, slowing down from 3.7% in the previous reading, and below estimates of 3.3%.
Technical Bias - After a healthy retracement from hitting 2000, the yellow metal now seems to have found support a ready to go
on another bullish run, giving us a decent potential trade for a 1-4 risk to reward swing trade from here. #OPINIONLEADER# #GOLDTODAY#
Edited 16 Nov 2023, 18:00
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