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Is Gold Headed For A Fresh Breakout?
Despite recent macro and geo-political developments, gold prices continue to trade within the range which has framed price action over the last six months. The futures market has turned higher through recent sessions but has yet to break the high watermark set in March. A dovish shift in the traders’ Fed expectations looks favourable for gold bulls, however, with gold prices seen pushing higher on the back of Friday’s NFP shock. Given that the US jobs market is now in a worse place than previously thought, there is room for gold prices to advance as we head towards the September FOMC with the rates market now ... (full story)
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