Gold futures declined on Friday, settling 3.5% lower for the week and at their lowest price month to date. “Wall Street is nowhere near feeling confident they have a handle on how high the [Federal Reserve] will take rates and that is bad news for bullion,” said Edward Moya, senior market analyst at OANDA. “Gold’s decline extended after the University of Michigan survey showed inflation expectations stopped declining.” Gold for December delivery GCZ22,
XAUUSD: Gold continues to strengthen after completing a correction
Despite positive fundamental forecasts for the US, Gold continues to strengthen, with the growth target at 2,650. More details in our XAUUSD analysis for today,