Mixed signals and gold's price direction
There is still a risk of a significant selloff in the gold market because that would be symmetrical to what happened over the past two years when gold reached $2,000 an ounce, Millman pointed out. "The next most likely move for gold is lower," he said.
Markets are eyeing Powell's two-day testimony before the House and Senate next week, a lineup for Fed speakers, and more macro releases.
"Gold is going to be facing a lot of mixed signals next week,"#TMGMGlobal#
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