🥇Gold outlook | Oct. 12–16
Gold finished the week near $4,194, recovering from a low around $4,066 as yields and oil eased and buyers stepped in near $4,100. The week’s high was around $4,208.
In Kitco’s survey, 50% of Wall Street analysts were bullish, 14% bearish and 36% neutral. Main Street was less convinced: 45% bullish, 37% bearish and 18% neutral.
⏭️Next week’s focus is inflation: CPI Wednesday, followed Thursday by PPI, retail sales and manufacturing surveys. Fed Chair Warsh is also due to speak at an IMF event Thursday evening. Hotter data could lift yields and the dollar, while a softer reading may support gold.
🔑Levels to watch: Resistance at $4,202–$4,205, then $4,230. Support at $4,180–$4,170, then $4,150 and the $4,100–$4,066 zone.
Gold may stay range-bound until the data. A sustained break above $4,230 could bring $4,250–$4,300 into view; a drop below $4,150 would put $4,100 back on the radar. I’d wait for a clear reaction at the levels rather than force a direction.
Cash is a position. NFA.
TRADE $XAU HERE👇
Gold finished the week near $4,194, recovering from a low around $4,066 as yields and oil eased and buyers stepped in near $4,100. The week’s high was around $4,208.
In Kitco’s survey, 50% of Wall Street analysts were bullish, 14% bearish and 36% neutral. Main Street was less convinced: 45% bullish, 37% bearish and 18% neutral.
⏭️Next week’s focus is inflation: CPI Wednesday, followed Thursday by PPI, retail sales and manufacturing surveys. Fed Chair Warsh is also due to speak at an IMF event Thursday evening. Hotter data could lift yields and the dollar, while a softer reading may support gold.
🔑Levels to watch: Resistance at $4,202–$4,205, then $4,230. Support at $4,180–$4,170, then $4,150 and the $4,100–$4,066 zone.
Gold may stay range-bound until the data. A sustained break above $4,230 could bring $4,250–$4,300 into view; a drop below $4,150 would put $4,100 back on the radar. I’d wait for a clear reaction at the levels rather than force a direction.
Cash is a position. NFA.
TRADE $XAU HERE👇