Recently, gold remained under pressure amid an aggressive attitude against the US Federal Reserve monetary policy. The market is quite active pawned at increasing rates are already at the December meeting. However, published 13 November retail sales data and a report on the producer price index put this belief into question. If more and data on the consumer price index on November 17 will reflect a decrease of price pressure, the dollar may be under short-term pressure, which makes it denominated assets, including gold, higher. Among other things, gold grows amid increasing geopolitical risks following the terrorist attacks in Paris. Do not forget about the report from the WGC (World Gold Council), which reflected that by the end of the 3rd quarter of this metal is fixed “net demand“.
In the area of 1101.37 level is quite strong resistance. If American reports disappoint, the probability of breakdown at this level will increase. In this case, again, can be activated the “bulls“, which will lead to faster growth and a return to the level of 1116.80.