Overnight market review, during the Asian session on Tuesday (November 15), spot gold fluctuated within a narrow range and is currently trading around $1,771.40 per ounce, temporarily holding most of the overnight gains, although the U.S. dollar index was affected by the hawks of the Federal Reserve Board of Governors Waller on Monday. The speech was supported, but the price of gold still rose slightly. The market’s expectation that the Fed will slow down the pace of raising interest rates still provided support for the price of gold, and the position of gold ETF began to increase, which also provided confidence to the bulls.
Traders of fed funds futures see an 89 percent chance of a 50 basis point hike at the Fed’s December meeting, and only an 11 percent chance of a 75 basis point hike.
Trading strategy deployment: it is recommended to short at high positions
All transactions involve risks, and the above analysis is for reference only. Be sure to set the number of hands and remember to set a stop loss when placing an order.