Gold has fallen back into the 3,900s again—it’s back to starting with 39. The 4,082 level I told you about a couple of days ago was broken, and the price didn’t recover it by the close that day. The rebound structure was damaged, so a downside break was the usual outcome—and it was expected. Today, it fell straight back into the 3,900s.
Last time, I told you I thought 3,900 was a reasonable level. Is it reasonable this time? I’d advise you to be cautious for now.
After all, the Fed has been constantly making noise lately—one moment talking about a 25-basis-point hike, the next about 50 basis points. Either way, they’re determined to raise rates. These rate expectations are directly weighing on gold, so it doesn’t have much going for it in the short term.
Does that mean it’s all over? No. When the November inflation data comes out and shows cooling, proving those dear Fed lapdogs wrong, gold will still have a chance.
$XAU #黄金 #金价暴跌 #金价 #黄金暴跌 #GoldAndSilver
Last time, I told you I thought 3,900 was a reasonable level. Is it reasonable this time? I’d advise you to be cautious for now.
After all, the Fed has been constantly making noise lately—one moment talking about a 25-basis-point hike, the next about 50 basis points. Either way, they’re determined to raise rates. These rate expectations are directly weighing on gold, so it doesn’t have much going for it in the short term.
Does that mean it’s all over? No. When the November inflation data comes out and shows cooling, proving those dear Fed lapdogs wrong, gold will still have a chance.
$XAU #黄金 #金价暴跌 #金价 #黄金暴跌 #GoldAndSilver