☀️ Thu 8 Oct · ⚪ MIXED for gold
Gold about $4,135 (down about $5 since the last brief)
📰 What happened
🔴 Wed 7 Oct: gold fell as low as about $4,066, a two-month low, as the dollar and US bond rates rose and oil stayed above $100. It ended near $4,105.
🔴 Fed meeting notes (minutes): all officials backed September's rate rise, and most see another one by year end. Higher rates for longer weigh on gold.
🟢 Overnight: gold bounced to about $4,135 as the dollar eased from its highest in about 18 months.
🔴 Iran: a US news report says the Pentagon was told to prepare for possible renewed major combat in Iran, no decision yet. Oil (Brent) is about $102. Fear through oil means inflation fear while the Fed is raising rates.
📅 Next 24 hours (Times: UK / New York)
09:30 / 04:30 Fed governor Waller speaks (votes on US rates) 🔥🔥 MEDIUM
Topic: the economic outlook
🟢 if he leans to a pause | 🔴 if he leans to more hikes
13:30 / 08:30 US jobless claims (people newly claiming unemployment benefit) 🔥🔥 MEDIUM
Expected 200,000 (prev 197,000)
🟢 if higher | 🔴 if lower
18:40 / 13:40 St. Louis Fed head Musalem speaks 🔥🔥 MEDIUM
Topic not confirmed
🟢 if he leans to a pause | 🔴 if he leans to more hikes
📖 Gold lesson
Gold is priced in dollars. When the dollar slips, gold gets cheaper for people paying in euros, yen or yuan, so its dollar price often rises. That helped gold bounce overnight even after tough Fed notes.