According to the analysis we gave to XAUUSS earlier, GOLD went UP very fast in the previous weeks, BREAKING the TREND LINE. Due to this US10Y went down. The main reasons for that were the REPUBLICANS winning, and US CPI DATA being NEGATIVE.
But since RETAIL SALES was POSITIVE the other day, GOLD was slightly SELL yesterday. It is definitely a very important indicator for the FED. Currently, MARKET RISK is being ON. Therefore, USD WEAKNESS is seen today.
We have some very important NEWS coming to USD this week. Be sure to keep an eye on it.
Anyway, since US10Y is going up with RETAIL SALES UP, GOLD is going down quite a bit right now. Anyway, we expect that GOLD will go up to 1875 LEVEL. Before that, GOLD may go down to the 1783 level with the FOMC UPDATE. Be careful.. gold
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