FED FEARS ALIVE; GOLD CHANGING DIRECTIONS BEARISH DECEMBER AHEAD
Strong Data Report caused a Bearish start of the week:
The Dow Jones Industrial Average slipped 1.4%, or 482 points, the Nasdaq 1.9%, and the S&P 500 fell 1.7%.
"The Fed is expected to slow the pace of interest rates at its meeting next week, but recent data including the red-hot jobs report on Friday shows that “they are going to have to hold rates at a high level (sufficiently restrictive) for quite a while to get inflation back down to the 2% target,” Jefferies added.
Treasury yields rose as investors weigh up the prospect of higher for longer interest rates to bring down inflation, pressuring growth sectors of the market including tech and consumer stocks."
Huge shifts in directions as Gold showed an OVERBOUGHT signal at the 1800 Benchmark, where Buyers took their profits, and investors patiently expected the PMI Report which was the final trigger for the move.
Following the technicals and observing the Thursday & Friday news I´m expecting Bearish Gold Sentiment.
Please take a moment & look at my last Gold Ideas Linked below.
Good luck Traders!
The Dow Jones Industrial Average slipped 1.4%, or 482 points, the Nasdaq 1.9%, and the S&P 500 fell 1.7%.
"The Fed is expected to slow the pace of interest rates at its meeting next week, but recent data including the red-hot jobs report on Friday shows that “they are going to have to hold rates at a high level (sufficiently restrictive) for quite a while to get inflation back down to the 2% target,” Jefferies added.
Treasury yields rose as investors weigh up the prospect of higher for longer interest rates to bring down inflation, pressuring growth sectors of the market including tech and consumer stocks."
Huge shifts in directions as Gold showed an OVERBOUGHT signal at the 1800 Benchmark, where Buyers took their profits, and investors patiently expected the PMI Report which was the final trigger for the move.
Following the technicals and observing the Thursday & Friday news I´m expecting Bearish Gold Sentiment.
Please take a moment & look at my last Gold Ideas Linked below.
Good luck Traders!
