Gold Finally Gets A Bullish Move

Yesterday Gold had a rally into key resistance where bulls were able to break the weekly bar from the 13 Sep. The price has gone from a low of $1,757.89, and will attempt to test a high of $1,796.24; the 200-day EMA. 

US inflation data showed that prices rose solidly in September. The Federal Reserve will announce a tapering of stimulus next month, with possible rate hikes by mid-2022. The CPI rose 0.4% last month, versus a 0.3% rise expected by economists polled by Reuters.

Leave a Reply

Your email address will not be published. Required fields are marked *