MGC1! Depending on how the PCE data comes out this week, I think we might see Gold consolidate after all this upward momentum...for the remainder of the year even. Markets have been pricing in 3 rate cuts for the last few weeks. But given recent fed speeches, they might actually be going back to 2 or potentially even just the one rate cut we had in September. Obviously everything is data dependent, but I doubt we'll see 2 additional rate cuts unless upcoming jobs data releases are really bad.
GCV2025 If you absolutely must take a short, consider eyeing the 3803–3804 zone — but make sure: it’s the October futures contract, not December. This level is calculated using the Expected Range (ER) formula, based on data from the CME exchange.
Levels derived from this formula have a strong historical hit rate across a wide range of financial instruments.
We publish a weekly recap of ER performance in our channel — showing how these levels played out over the past week.
MGC1! Currently watching price behavior around 3783.5 and 3774.1
