ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Hits 3-Month High
Earlier today, data released by the National Bureau of Statistics of China (NBS) revealed that the world's second-largest economy slowed in October, creating a demand for safe haven. On the other hand, the pricing of the expectations that the FED might slow down the current rate hike cycle continues. From this point of view, the sequential levels of 1794 and 1806 can be followed in the transition of ounce gold, which continues to collect its losses by defending the upward trend, to the resistance of 1785. However, the commodity is unlikely to enter a correction path unless the 1767 – 1758 support zone below ends.
