Gold stuck in no mans land
|Gold is still in no man's land after giving back most of last week's gains post-US payrolls. Activity is still reasonably slow ahead of FOMC but could also be a function of year-end trading malaise.
Gold topside so far remains limited in this current environment as momentum remains for higher bond yields going into year-end. The global reflation trade continues to resonate – that's, of course, if we can clear Brexit and US-China risk
With the FOMC statement likely to toe a steady policy line, ultimately, much of the short-term momentum will depend on trade talk sincerity, and if a phase one deal is signed, sealed and delivered. As such, gold is likely to stay on the defensive near term.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.