Unfortunately for the bull camp, the gold trade continues to embrace the bearish bias from last week with expectations the dollar will continue to climb, and the charts remain bearish.
With the last day of Diwali tomorrow the opportunity for Indian festival demand is past.
While there will be an avalanche of global inflation readings this week, we do not see that information playing a determining role for gold and silver prices, and most readings are expected to show only incremental changes it is unlikely there will be a definitive opinion on the direction of upcoming central bank policy changes.
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