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Gold (XAU/USD) Price Forecast: Bullish Breakout Gathers Pace as Fed Pivot Expectations Firm, $4250/oz Incoming?
Gold prices saw a sharp rise at the start of the trading week. The precious metal is trading up around 2% on the day and holding near the 4100/oz handle. Last week, new data (data from 3rd party sources) came out showing that the US economy lost jobs in October, particularly in government offices and retail stores. Adding to this bad news, a report on Friday showed that Americans felt much less confident about the economy in early November because families were worried about things getting worse financially. Because of this weak data, financial markets now believe there is a 60% chance that the Fed will cut interest ... (full story)
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