Gold - Long Pre Inflation Data

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
We see Gold continuing to move higher whilst it remains above support at $1773. Gold has sustained it's upward momentum on the back of fears surrounding rising inflation and also a weakening US dollar. The precious metal is perceived as an effective hedge against rising inflation as it is seen as a store of value. We await key economic data releases including the Q3 US GDP growth rate on Thursday and the PCE Price Index YoY on Friday for any significant price action.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.