Gold Technical Analysis – The short-term bias turned bearish ...Middle East

Fundamental OverviewGold has been on a steady retreat since hitting a new all-time high last Wednesday. We saw a reversal in many other markets since last Wednesday and it’s not clear what has been behind the move. The data continues to point to a resilient economy with inflation falling slowly back to target. That should see the Fed cutting rates at least two times this year. On the other hand, the risks to the growth picture increase the longer the Fed keeps policy restrictive. The new driver could be Trump now looking more and more like a potential winner and his policies are seen as inflationary which could see the Fed eventually going even more slowly on rate cuts. Gold Technical Analys

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