Gold - Long Pre Inflation Data

Oct 22, 2021

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Gold - Long Pre Inflation Data by KQMarkets on TradingView.com

Commentary

We see Gold continuing to move higher whilst it remains above support at $1773. Gold has sustained it's upward momentum on the back of fears surrounding rising inflation and also a weakening US dollar .

The precious metal is perceived as an effective hedge against rising inflation as it is seen as a store of value.

We await key economic data releases including the Q3 US GDP growth rate on Thursday and the PCE Price Index YoY on Friday for any significant price action.

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