Gold Technical Analysis – Some de-risking going into the US Election ...Middle East

Fundamental OverviewLast Thursday, gold got hit by some strong selling pressure following the US Jobless Claims and the US Core PCE report. The data keeps on showing that the US economy is doing pretty good, and we even saw some acceleration in activity in other data points. The data and the proximity to the US election might have triggered some de-risking. In the bigger picture, gold remains in a bullish trend as real yields will likely continue to fall amid the Fed’s easing cycle. The pullbacks will likely be triggered by a repricing in rate cuts expectations but unless the Fed’s reaction function changes, the uptrend should remain intact.Tomorrow, we have the US Presidential Election and

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