Gold and Silver Downside Pressure Remains | Metals Mine

  • Gold and Silver Downside Pressure Remains

    From cityindex.co.uk

    On Tuesday, the ICE US Dollar rebounded 0.5% after it managed to keep the 93.00 level in the last few sessions. Spot gold dropped 1.6% and was down for a second straight session, wiping out the gains made last Friday. Official data showed that US core CPI rose 1.7% in September, holding up well since marking a low of 1.2% in May and June, suggesting that the Fed is facing less deflationary pressure. Investors will also focus on Friday's US sales data, which is expected to grow 0.8% on month in September, compared with +0.6% in August. From a technical point of view, spot gold may have shown a false breakout on the ... (full story)

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swagtrading
Oct 14, 2020 4:00am
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On the daily chart, I see gold more ranged within the range of 1849 and 1934, which is likely to hold in the month of October.
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