Overnight Market Review (2022.11.08) After a strong rise of $50 on Friday, is there a chance for gold prices to break through? TD Securities said it was too early for gold prices to move now due to strong outflows from ETFs and inflated long positions.
Comex December gold futures were last at $1,681.90, up 0.32% on the day, after climbing from lows around $1,630 in early trade on Friday. Gold’s turnaround comes after the latest U.S. jobs report clarified some mixed messages from the Federal Reserve and countries in the Asian region also hinted at a possible easing of virus policy.
Trading strategy deployment: it is recommended to go short at high levels
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