Indices and commodities
Active
GOLD
Short
Gold Breakdown Toward $3,860
Rationale
TradingView idea: Breakdown Pressure Toward 3,860 for OANDA:XAUUSD by Tiara_PrimeGold
TradingView symbol: XAUUSD
Gold is trading around 3,900 on the H1 chart after breaking below the 3,971.806 Major Structure Support. Price remains inside the descending channel, keeping the short-term structure bearish.
Market Drivers
Gold remains pressured by a stronger dollar, higher Treasury yields and increasingly hawkish Fed expectations. October U.S. CPI rose 0.4% MoM, while core CPI increased 0.3%. Markets currently price an 89% probability of a 25bp December hike and 11% for a 50bp move. Fed New York President …
Key details
Disclaimer
The information published on this website and in the Invest Ideas bot is provided for informational purposes only and does not constitute individual investment advice, an offer, or a solicitation to buy or sell any financial instrument. Users make all financial and investment decisions at their own discretion and under their own responsibility. The administration and owners of the website and bot are not responsible for user-generated materials or for any losses arising from the use of the published information.