SAU continues to rise after setting a record

Weaker US macroeconomic data has put significant downward pressure on the USD, pushing it closer to its lowest level this year while pushing gold prices to a new record high. The Consumer Confidence Index fell to 98.7 in September, down from 105.6 in August, while Current Conditions fell to 124.3 from 134.6.

A Richmond Fed survey showed manufacturing activity remained weak, with the composite index falling to -21 in September from -19 in August. The CME Group’s FedWatch tool shows that markets are pricing in a more than 60% chance of the Fed cutting interest rates by another 50 bps at its November meeting.
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SELL XAU 2664
TP1: 2657
TP2: 2650
SL: 2670
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Running + 60 pips
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RUNNING + 100 PIPS
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