GOLD Weekly Volatility Forecast 26-30 September

GOLD Weekly Volatility Forecast 26-30 September

Currently our volatility for GOLD is at 2.54%, increasing from 1.64% last week, located on 90th percentile, placing us in a very high volatility environment

Based on the previous calculations, there is currently a 28.6% chance that the asset is going to break the channel(the weekly candle it will close above/below)
TOP 1670
BOT 1616

At the same time, based on the previous calculations:
- There is a 30% chance that the previous high from last week of 1688 is going to be touched
- There is a 70% chance that the previous low from last week 1641 is going to be touched(at the moment of the writing was already touched)
We can deduct that we have a much higher probability to have a continuation of bearish candle than bullish.

On average the weekly candle when the asset was located around this percentile are 1.4% for bull candles and 1.8% for the bear candles from the opening price.


From the fundamental point of view, news that can affect this asset price this week:
- Core Durable release, CB Consumer confidence and Powell Speech for Tuesday 27 Sep
- Powell Speech for Wednesday 28 Sep
- US GDP coming on Thursday 29 Sep



Overall I believe for this week there is higher chance due to the overall global activity to have another bearish weekly candle.