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Dollar Strength Puts Gold's Third Weekly Gain at Risk Amid BOJ Yield Curve Control Uncertainty

Dollar Strength Puts Gold's Third Weekly Gain at Risk Amid BOJ Yield Curve Control Uncertainty
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Gold prices are softening as the dollar firms up after reports that the BOJ is leaning towards leaving yield curve control strategy unchanged. ​

 

The dollar is riding a small wave here and that is putting gold’s third weekly gain at risk. ​ Gold traders have a lot of news to follow next week and that could support a deeper pullback if the Fed keeps optionality for more tightening on the table and if earnings continue to mostly suggest the resilience of the US economy remains.

Before the central bank fireworks ignite next week, gold seems like it will consolidate between the $1940 and $1980 range. ​ ​ ​

 

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dollar strength puts gold s third weekly gain at risk amid boj yield curve control uncertainty grafika numer 1dollar strength puts gold s third weekly gain at risk amid boj yield curve control uncertainty grafika numer 1


Ed Moya

Ed Moya

With more than 20 years’ trading experience, Ed Moya is a senior market analyst with OANDA, producing up-to-the-minute intermarket analysis, coverage of geopolitical events, central bank policies and market reaction to corporate news. His particular expertise lies across a wide range of asset classes including FX, commodities, fixed income, stocks and cryptocurrencies. Over the course of his career, Ed has worked with some of the leading forex brokerages, research teams and news departments on Wall Street including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including CNBC, Bloomberg TV, Yahoo! Finance Live, Fox Business and Sky TV. His views are trusted by the world’s most renowned global newswires including Reuters, Bloomberg and the Associated Press, and he is regularly quoted in leading publications such as MSN, MarketWatch, Forbes, Breitbart, The New York Times and The Wall Street Journal. Ed holds a BA in Economics from Rutgers University.


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