VIP Analysis report 14/10/2021 by Peter Cruz

Mr. Peter

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Analyst: Peter Cruz

Market Brief


Gold bulls bust through bearish commitments and prints fresh highs for October. US dollar gives back significant ground as 30-Year Treasury yields drop heavily. Stagflation theme gains traction in markets are cold energy-sapping winter-time approaches. The price of gold on Wednesday has rallied into key resistance territory where it has the highest levels since the weekly bar from 13 September. At the time of writing, gold is trading at $1,793 and 1.85% higher. The price has traveled from a low of $1,757.89 to a high of $1,796.24 where it tests the 200-day EMA.

On the data slate there’s Switzerland Producer & Import Prices; UK BOE Credit Conditions Survey; US PPI; US Continuing Jobless Claims; US Initial Jobless Claims; US Natural Gas Storage Change; US 4-Week Bill Auction; US Fed’s Williams Speech and US Monthly Budget Statement.

(a) Precious Metals Market

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