XAUUSD prices have been on an extraordinary run the past few months, climbing from $1,540 at the beginning of September to a high just shy of $1,867 last week.
Nevertheless, that might be about all people who will get out if higher inflation numbers and geopolitical tensions continue weighing heavily into risk sentiment. It has seen increased expectations for rate hikes in America stimulate demand for precious metals over time despite their reputation as hedges against economic uncertainty or currency devaluation.
There are no big market-moving data to be released in the next week therefor traders will care about inflation, the 0-year US Treasury bond yield moves, Retail sales reports, and any comments from FOMC policymakers. I think these four factors are enough to understand the gold market from the view of fundamental analysis.
Warning:
Trading on CFDs involves a high level of risk, including full loss of your trading funds. Before proceeding to trade, you must understand all risks involved and acknowledge your trading limits, bearing in mind the level of awareness in the financial markets, trading experience, economic capabilities and other aspects.
Disclaimer:
Market Trends, Charts, Trading Ideas or other information provided by BKFX (Pty) Ltd and/or third parties are not intended as an investment advice and/or recommendation. The information provided is not presented as suitable or based on your specific need. You are responsible for your own investment decisions and you should not trade with money you cannot afford to lose. Any views or opinions presented in this Article are solely those of the author and do not necessarily represent those of the Company, unless otherwise specifically stated. The Company may provide the general commentary which is not intended as an investment advice and must not be construed as such. Seek advice from a separate financial advisor if an investment advice is needed. The Company assumes no liability for errors, inaccuracies or omissions, inaccuracies or incompleteness of information, texts, graphics, links or other items contained within this article/material.