ANALYSIS
NQ100 Finds Support from PPIApr 14
Strong Dollar Effect on Ounce Gold
Due to the recent instability in the British markets, ounce gold received some reaction with the demand for a safe haven. However, just days before the US Federal Reserve's (FED) monetary policy meeting on November 1 - 2, while the Committee's 75 basis point interest rate hike is considered almost certain, the US 10-year bond yields have renewed their 14-year high with 4.06%. Under this outlook, ounce gold, for which it gets difficult to enter a permanent recovery path, continues to defend the descending channel movement, while the 1635 support will be closely monitored. In permanent transitions under here, 1624 support may come to the fore. Above, 1654 – 1665 resistances may be in question.
