Gold sell confirm trade
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Increasing odds of a partial US government shutdown on October 1, which poses a risk to the economy, and persistent worries about a real estate crisis in China act as a tailwind for the safe-haven precious metal.
The divergent paths of the two chambers have increased the possibility that federal agencies will run out of money on Sunday. The Democratic-led US Senate, meanwhile, moved forward on Thursday with a bipartisan stopgap funding bill to extend federal spending until November 17, which should pass, though perhaps not before the weekend deadline. Some conservative House Republicans, however, are pushing for deep spending cuts and said they'll refuse to support the Senate's bill or any short-term legislation that would buy Congress more time to act. House Republicans have already rejected spending levels for fiscal year 2024 set in a deal between Speaker Kevin McCarthy and President Joe Biden in May 2023.
Gold now sell 1856
Sell limit 1860
Target 1852
Target 1848
Target 1830
SL 1880
The divergent paths of the two chambers have increased the possibility that federal agencies will run out of money on Sunday. The Democratic-led US Senate, meanwhile, moved forward on Thursday with a bipartisan stopgap funding bill to extend federal spending until November 17, which should pass, though perhaps not before the weekend deadline. Some conservative House Republicans, however, are pushing for deep spending cuts and said they'll refuse to support the Senate's bill or any short-term legislation that would buy Congress more time to act. House Republicans have already rejected spending levels for fiscal year 2024 set in a deal between Speaker Kevin McCarthy and President Joe Biden in May 2023.
Gold now sell 1856
Sell limit 1860
Target 1852
Target 1848
Target 1830
SL 1880
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