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Forex Today: Gold hits new 6-month high

Forex Today: Gold hits new 6-month high

Despite a slight risk-off feeling as markets opened the week quietly, gold is trading at a new 6-month high above $2,010, not far from its record high of around $2,070.

➡️ They made a bullish breakout to a new 6-month high above $2,010 an ounce and threatens to reach its all-time high at around $2,070, despite the feeling of risk aversion present in the market today.

➡️ Stock markets are a little weaker today. The NASDAQ 100 Index stood out after reaching a new 22-month high price last week. Trend traders and day traders will be interested in getting involved on the Long side, with bulls getting a tailwind from lower-than-expected US inflation data recently.

➡️ In the Forex market, the New Zealand dollar is the weakest major currency in the short term, while the Japanese yen is the strongest, focusing the NZD/JPY currency cross. The US dollar continues its bearish trend.

➡️ Crude oil is still trading lower as OPEC was forced to postpone its next meeting from last weekend to Nov. 30, while U.S. crude inventories rose last week to the highest level since July.

➡️ It is likely to be a relatively quiet day in the market today as it is a Monday and no major data releases are expected.

 

Credit by DailyForex.com

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