📈 Gold Market Analysis: Weighing Fundamentals with Technicals

14 พ.ย. 2023

🔍 Fundamental Outlook:

🏦 Fed’s Hawkish Stance: The Federal Reserve's commitment to curb inflation through tighter monetary policy continues to shadow the gold market. Jerome Powell's firm stance suggests a challenging environment for gold as dovish hopes dimi​​rce.

🌎 Global Economic Sentiment: Moody's negative outlook on U.S. debt has provided a temporary bullish sentiment for gold, indicating a flight to safety by investors amidst economic uncertai​​urce.

📊 Inflation Data Anticipation: The market is on edge as it awaits the U.S. inflation report, which could offer significant cues on the interest rate landscape and consequently affect gold ​​ource.

📉 Technical Analysis:

📈 Resistance and Support: The price remains below the pivotal $1,950 level, indicating a need for a strong catalyst to push through this resistance. Support is being tested, with potential dips indicating selling ​​​​†source.

📊 Historical Performance: October's record-high close at $1,997 an ounce demonstrates the potential for gold's upward movement, yet the need for a sustainable bid remains​​1†source.

🔄 Bias Direction:

Considering the fundamentals with the technicals, we maintain a cautiously bullish bias on gold. We expect:

15 พ.ย. 2023

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