Gold prices attempted to gain a foot hold following softer than expected U.S. import and export prices which showed continued declining inflation. Yields
Gold prices attempted to gain a foot hold following softer than expected U.S. import and export prices which showed continued declining inflation. Yields edged lower which nudged the dollar down and helped the yellow metal gain traction. Resistance is seen near the 5-day moving average at 1,097 while support is seen near the July lows at 1,078. Momentum remains negative with the MACD printing in the red with a downward sloping trajectory.
U.S. import prices fell 0.5% in October, and export prices slipped 0.2%. The 0.1% dip in September was revised down to -0.6% and the -0.7% export print was bumped up to -0.6%. On an annual basis, import prices are off -10.5% y/y, with export prices at -6.7% y/y.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
