Fundamental OverviewYesterday, we got some positive US data releases as the US retail sales came out a touch better than expected and the industrial production data beat forecasts erasing the hurricane related weakness in July. The data put some pressure on gold and we might see some profit-taking given that it’s unlikely that the Fed will be able to out-dove the markets expectations today.The market is pricing a 63% probability that the Fed cuts rates by 50 bps today and then delivers 250 bps of easing by the end of 2025. That seems a bit too aggressive at the moment, so the market might get disappointed for the 2025 pricing. Gold Technical Analysis – Daily TimeframeOn the daily chart, we
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