Gold has found a new footing after this week’s pullback, holding well above its 200-day moving average and showing no real signs of weakness. The market appears steady — investors aren’t rushing to sell, and buyers are still creeping back in on any dips.

In the US, inflation could again become the headline story. The upcoming CPI print is tipped to push back over the 3% line — a threshold the Federal Reserve won’t ignore. The big question now is whether the FED decides to hold rates a little longer, or even raise them again to drag inflation back under control.

Consumer sentiment isn’t looking too flash either. Forecasts point to a mild slide in confidence, reflecting the tug-of-war between high living costs and job security. We’ll know more once the real numbers drop later in the week, but signs point to a cautious US consumer heading into the holiday season.

Back home, the big four banks are quietly trimming rates ahead of any official move by the RBA. It’s an interesting shift — possibly signalling that the next cut is already baked in, or that banks are competing harder for business as housing demand softens. Either way, it’s a hint that Australia’s rate cycle could be closer to turning than policymakers are letting on.

Enjoy the weekend, remember to do your own research before investing and we’ll catch you next week with more news.

Market Snapshot

Gold – $AU6324
Silver – $AU75.01
US500 – 6745
ASX200 – 8849
AUD/USD – 0.6515

Gold Futures Technical Analysis

Technical indicators for Gold Futures suggest a STRONG BUY on both monthly and weekly analyses.

Technical Indicators – Monthly Projections

RSI(14)	Overbought
STOCH(9,6)	Buy
STOCHRSI(14)	Overbought
MACD(12,26)	Buy
ADX(14)	Overbought
Williams %R	Overbought
CCI(14)	Buy
ATR(14)	High Volatility
Highs/Lows(14)	Buy
Ultimate Oscillator	Buy
ROC	Buy
Bull/Bear Power(13)	Buy