ANALYSIS
NQ100 Finds Support from PPIApr 14
Rebounds May Not Be Permanent in Ounce Gold
Leading the safe harbours, the ounce of gold continues to stifle the possibility that the US Federal Reserve (FED) could raise interest rates by another 75 basis points for high inflation days before its critical September meeting. As a matter of fact, the effect of the US 10-year bond interest rates at the level of %3.25 is in question. Technically speaking, the yellow metal, which maintains the descending canal appearance on the fourth trading day of the week, may retract until psychological support of 1700 if it can be passed below 1709. Above, 1727 and 1736 resistances may be in question.
