Gold in the Asian session on Friday (October 24th) tended to be flat around $4,130/oz after a sharp correction yesterday (spot prices briefly fell to near $4,090 before stabilizing again). Volatility remains high, so the market is focused on that intraday range.
Key fundamentals: the market is awaiting the FOMC meeting on October 28-29th (many anticipate an interest rate cut) and the CPI inflation release on October 24th, both of which could move the dollar/yield and the direction of gold. Supporting the larger trend, demand for gold from central banks remains strong this year.
The gold price at the time of this analysis was released was at $4,130/oz.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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