While events that are widely anticipated to present significant volatility can sometimes be disappointing with a muted response, the stakes for many financial markets are significant today as the pendulum of expectations for an early US rate cut has been pulled down with a series of US Fed speeches generally indicating the fight against inflation is not complete yet.
Fortunately for the bull camp in gold and silver the action in bond and dollar markets this week has not shifted definitively bearish from the reduction in rate cut expectations but today presents a possible breakout session with a dollar trade above 102.385 a big problem for the bull camp.
On the other hand, a trade in the dollar below 101.835 could save the day for the bull camp and launch February gold above $2050...[MORE]
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