2025-11-07 16:41:00
Gold has been a real battle this week as it consolidates around $4000 but it’s taken a quick trip to the best levels since Monday. It quickly rose to $4025 from $3990 in the past few minutes. It needs to get above the Oct 30 high of $4047 (call it $4050) to clear this consolidation zone but this is a better finish to the week if it can hold here.
There wasn’t any real catalyst for this but the US dollar is soft and Treasury yields are near the lows of the day. The market could be sniffing out a Fed cut in December as the US government shutdown drags on and we miss another non-farm payrolls report. The UMich consumer sentiment data today was also poor, is it fell to the lowest since June 2022.
