$XAU
Gold jumped more than 5% last week and briefly pushed toward $4700/oz on Monday before profit-taking kicked in
Spot Gold: $4641
December Futures: $4698
But the bullish story is still alive
Gold-backed ETFs attracted around 46.7 tonnes, worth $6.4B, last week, the strongest weekly inflow in nearly 10 months. Stable Treasury yields and a weaker USD are also supporting gold.
Key catalysts ahead: $4700 Can gold break and hold above it?
US PCE Is inflation cooling? Jackson Hole What will Fed Chair Warsh say? Middle East tensions Will safe-haven demand continue?
If gold breaks and holds above $4700 the upside could open further
But repeated failures could trigger another short-term pullback
What comes first ? A $4700 breakout or a deeper correction? #黄金触及4700美元结束六个月回调 #哈萨克斯坦下调石油产量预期至9600万吨
Gold jumped more than 5% last week and briefly pushed toward $4700/oz on Monday before profit-taking kicked in
Spot Gold: $4641
December Futures: $4698
But the bullish story is still alive
Gold-backed ETFs attracted around 46.7 tonnes, worth $6.4B, last week, the strongest weekly inflow in nearly 10 months. Stable Treasury yields and a weaker USD are also supporting gold.
Key catalysts ahead: $4700 Can gold break and hold above it?
US PCE Is inflation cooling? Jackson Hole What will Fed Chair Warsh say? Middle East tensions Will safe-haven demand continue?
If gold breaks and holds above $4700 the upside could open further
But repeated failures could trigger another short-term pullback
What comes first ? A $4700 breakout or a deeper correction? #黄金触及4700美元结束六个月回调 #哈萨克斯坦下调石油产量预期至9600万吨
