World XAU tends to decrease compared to last week's trading sess

Last week, gold regained its recovery momentum and gained 2.5% as the dollar weakened and US Treasury yields fell. On Tuesday, gold rose 1% intraday as a report showed inflation in the US cooled. The 12-month consumer price index fell from 3.7% recorded in September to 3.2%. Core inflation (excluding volatile energy and food prices) also fell slightly. Information about cooling inflation caused US 10-year Treasury bond yields to drop 3%, while the USD was under strong selling pressure. Subsequent reports, including October retail sales, unemployment claims and the producer price index, continue to provide traction to bring gold back to $1,980/ounce, helping the precious metal breaking the chain of 3 consecutive weeks of decline.

This week, the US Federal Reserve (Fed) will release the minutes of its most recent monetary policy meeting. However, experts say that the gold market no longer pays much attention to this minute, because investors are turning their attention to the timing of interest rate cuts. According to the FedWatch Tool, the market appears to be certain that the Fed will leave interest rates unchanged at its December policy meeting and is pricing in at least a 15% chance that rates will remain at 5.25%-5, 5% until June next year.

Comment:

SELL XAU 1982 - 1985

TP1: 1970
TP2: 1960
SL: 1995

Comment:

Hit Tp1 + 170Pips