Markets

Gold Completes Evening Star, as PCE Data Bolsters the Dollar - KITCO

Source: KITCO

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DW NOTE

Gold is down 12.3% from its January high of $5,318 and fell further this week as PCE data strengthened the dollar. The evening star pattern suggests continuation — bearish if you're a chartist, irrelevant if you notice the dollar rally is occurring while the Strait of Hormuz sits closed and oil supply is forecast to drop 4%. Gold isn't tracking geopolitics this month; it's tracking Fed policy that isn't changing.

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The United States has imposed sanctions on a Turkish investment bank and two subsidiaries, accusing them of helping Iran move oil revenue and providing access to the international financial system as Washington intensifies its campaign to squeeze Tehran. The US Treasury Department on September 4 des

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‘Synchronised build-up of physical, futures, and options exposure’ to drive gold price higher - Société Générale - KITCO

Gold Completes Evening Star, as PCE Data Bolsters the Dollar - KITCO

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