Gold barely moves according to the latest US economic data releases
Traders usually like the first week of trading of the year because it doesn’t waste time getting back to business when,, and other key dates are released.
The release of this one added a special flavor of additional volatility by amplifying the possibility of a rate hike in March (86% chance) and making a June hike a slam dunk (so far).
For gold bugs, survived another tough data test by holding above August trendline support while the gold bugs ratio was as high as that Gold/ Relationship – both positive developments on the weekend for XAU / USD and . Eventually, the positioning below the net long positions remains above the previous trendline resistance and is now becoming support.
s posted their largest weekly percentage gain since the first week of 2021 … yes, exactly 52 weeks ago. As for , I advocate 120 and 123 in This video.
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