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Forexpositive

Gold ready to above 2600 read the caption People got bullish on stocks. I get it. There’s a political change coming, and many investors might be excited about that while I don’t think that others would be willing to sell given this sentiment. However, I have to point out that tops are formed when the sentiment is extremely bullish. While this doesn’t have to be the final top for this rally (I admit, I thought that we saw a top already and stocks kept on rallying), I do want to stress that this is one of the moments where at least a local top becomes likely
OANDA:XAUUSDLong
by Mrsam36
Gold fell sharply after no news from the fedThe positive economic data recently released has caused investors to take profits on gold, shifting their investments to profitable assets such as stocks. Investors are also selling gold because today, the Federal Open Market Committee (FOMC) will release the minutes of last month's meeting. The employment report and positive economic data, investors expect the report will also have a positive assessment of the economy, as well as the interest rate policy may remain unchanged so that the Federal Reserve can maintain the conditions to bring inflation to the target of 2%.
TVC:GOLD
by NicoTradingMaster
Gold fluctuates amid Fed newsInvestors are looking ahead to data on the ISM services sector index and initial jobless claims, both of which are scheduled for release along with US NFP data on Friday. Data released on Wednesday showed NFP figures rose more than expected in September, suggesting the labor market remains strong. According to the CME FedWatch Tool, the probability of the Fed cutting interest rates by 50 basis points has decreased. The market is now pricing in a 37% chance of that happening, down from 49% last week. Gold tends to gain in a climate of low interest rates and political uncertainty.
TVC:GOLD
by NicoTradingMaster
Gold is being supported to increase in price from many sides.Notably, the US manufacturing purchasing managers index (PMI) for September fell short of forecasts and the previous month. The personal consumption expenditures (PCE) price index for August fell sharply from 2.5% in July to 2.2% year-over-year. The PCE price index for August also fell from 0.2% to 0.1%. Personal spending fell sharply from 0.5% in July to 0.2%. Personal income also fell from a 0.3% increase in July to 0.2% in August, below the forecast of 0.4%. The PCE index is a measure of inflation based on changes in personal consumption and is used by the Fed as its preferred indicator of inflation. Personal spending can reflect consumer optimism.
TVC:GOLD
by NicoTradingMaster