November 2 is the next FOMC meeting. We have the PCE and CPI inflation numbers coming up that can alter if the Fed does 75 basis points or ... ? For Gold, it had a good week but so far the chart shows a bounce in a bear market..
The Dollar soared again and oil moving too. Gold has a nice bullish set-ups, but a break brings $1,683 area into support. $1,738.80 next upside moving average..
Physical demand is high in Asia for both precious metals and base metals. Whether this demand is cyclical or sustainable, we will come to know only by the middle of November.
A "let's pause" days in markets. Two job reports coming out which the markets need to digest and figure out what the Fed will do next. The Fed will not stop raising rates..
And, to this end, the next rally in the market will likely tell us if a major long-term bear market has indeed begun earlier than I had expected, or if we have one more rally to be seen to new all-time highs before..
