Gold Price Consolidation Expected
Gold prices are likely to see consolidation for the third straight week as traders focus on key macroeconomic indicators and policy developments.
Analysts say the focus will be on the manufacturing and services PMI data from key regions, as well as China's trade and growth numbers.
In the US, private data, including ADP non-farm payroll, consumer sentiment and inflation expectations, will also be closely watched.
Additionally, the US Supreme Court's tariff hearing on November 5 will be a key event to watch, as it may impact gold prices.
Gold prices will be steered by these indicators in the near-term.
Author's summary: Gold prices may consolidate due to US data and tariff hearing.
- Key macroeconomic indicators
- Policy developments, including US Supreme Court's tariff hearing
- Manufacturing and services PMI data
- China's trade and growth numbers
- US private data, including ADP non-farm payroll and consumer sentiment
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