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Gold continues to lose momentum
As we inch ever closer towards the end of the year, it seems that the market continues to lose momentum. The stagnation of the last fortnight is continuing this week with prices still hovering above the 1763.88 support level. However, there is a high risk of volatility this week given the upcoming December FOMC meeting, due on Wednesday. On the back of yet another strong CPI reading, and in line with the hawkish commentary of several Fed members (including Powell), the market is broadly expecting the Fed to step up its tapering operation this week. While the recent Omicron announcement created some initial ... (full story)
