Gold Starts Q4 on the Front Foot After Last Quarter’s Plunge
XAU/USD makes an upbeat start to the last quarter of the year, helped by USD weakness, breaking above key technical levels
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XAU/USD makes an upbeat start to the last quarter of the year, helped by USD weakness, breaking above key technical levels
Prices staged a rebound over the last couple of days, on the back of disruption due to hurricane Ian and lower weekly inventories, but face renewed pressure today and USOIL heads towards another losing month
XAU/USD rebounds from Monday’s sump to the lowest level in more than two years, but draws towards the conclusion of its sixth straight losing month
Russian President Putin signed a partial military mobilization today and oil prices move higher on renewed energy fears
Gold has been under pressure since real rates turned positive in late April. The market expects an aggressive Fed tomorrow, weighing on the precious metal.
XAU/USD draws to the end of a bad week and breaks below key technical support, as expectations of another big rate hike by the US central bank work in the greenback’s favor
Given the need to control inflation, the prospect of higher interest rates is a headwind for gold. As such, in our view, the probability of lower prices is the path of least resistance.
Oil prices plunged over the summer, which has led to the technical formation of a death cross, but USOil tries to put up a fight, in the aftermath of the recent production cut by OPEC+
The Saudis cut oil production, but the oil markets remain in a downtrend. This weakness is ominous and primarily reflects the demand destruction.
Oil's underlying momentum is biased to the downside.
Gold remains under pressure as capital seeks real return.
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