For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.
GOLD: the era of $1 800
Finally, we have gold above $1 800, and it seems to feel itself quite confident over there. What is it up to now?
Strategically, the target is now $1 900.
Tactically, expect a downward retrace as the next step.
Fundamentally, it was the 8-year high that just got passed, so now it is the all-time high of 2011 to be challenged. Nothing extraordinary here - just pressure and time. Especially with these gloomy moods among investors and spikes of infection rates here and there.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
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