ANALYSIS
NQ100 Finds Support from PPIApr 14
FED Pressure Continues on Ounce Gold
The expectation that the US Federal Reserve (FED) will apply 75 basis points jumbo interest rate hike at its monetary policy meeting on November 1 - 2, remains the main scenario in the decline of ounce gold pricing. As a matter of fact, with the effects of this, the US 10-year bond yields have settled above the 4.00% level. Technically speaking, the yellow metal, which maintains its descending channel outlook on the first trading day of the week, is likely to bring 1616 support to the agenda in its permanent declines below the 1628 level. In upward attempts, the resistances of 1652 followed by 1664 may be in question.
