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Charts to watch this week – Gold and Oil gap up on Mid-East turmoil, US Dollar
Gold and Oil have unsurprisingly gapped higher on Mondays open after the weekend’s hostilities in the Middle East, Gold reclaiming it’s safe haven status and Oil opening 2% higher on supply problems from fears of a protracted and escalating conflict. Geo-political events are looking to dominate the market narrative this week, though key US inflation figures will also play a big part, these are the charts I’ll be watching closely in the week ahead. Gold XAUUSD has had a rough two weeks as the relentless rise in US treasury yields and the Dollar has seen a steep drop in the precious metals price. Last week we did ... (full story)