Platinum/JPY

On Monday, October 2nd, the central bank (BCCh) released August GDP, which fell 0.9% y/y, below market expectations (Economist Survey: -0.2%; Bloomberg: -0.1%), but very close to ours (-0.6%), the most pessimistic in the market. We expect the consensus to move towards our projection of annual GDP contraction for 2023 of 0.5%, at the floor of the range of ...

Gold has continued its sell-off breaking straight through support at 1,870 closing in on key support at around 1,804. RSI is showing negative sentiment with no divergence indicating lower levels from here. It is however, signaling that Gold is moving in to oversold territory. An exhaustive move down to 1,800 level should be expected. 0.618 Fibo retracement ...