Phil Carr
The Gold & Silver Club
Gold prices made an explosive start to November, rallying to a five-month high as global inflation soared at its fastest pace in decades. However, that trend shifted and prices pulled back on Tuesday as trader’s booked profits on the renomination of Fed Chair Jerome Powell.
Once again, these big market moves have presented traders with a series of incredible opportunities to profit from the rally as well as the huge price reversal that has subsequently followed!
Looking ahead to this week, traders have now shifted their attention to the closely watched U.S Inflation figures, FOMC Meeting Minutes and U.S Third Quarter GDP data for clues on the markets next move.
Right now, Gold prices are consolidating below the key $1800 level, which ultimately indicates a big move is on the horizon. The only question now, is which way.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
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