Takase Tomoaki "Weekly Gold Market Outlook" November 7, 2022 issue

Tamaki Takao, the President and CEO of Investment Daily Co., Ltd., and a master of cycle analysis, writes a weekly report on gold market outlook.

-----------------------------------------------------------------------------------

Last week featured multiple big events, including the FOMC and employment statistics, and the market reacted accordingly. At the FOMC, Chair Powell suggested the possibility of slowing the pace of rate hikes at the next December meeting, but noted that the "time lag" between the real economy and monetary policy is "very uncertain," and indicated that attention should be paid to October and November CPI as well as the October PCE price index.

In the employment report released on the 4th, nonfarm payrolls rose by 261,000, exceeding market expectations of 200,000. The unemployment rate rose to 3.7% (consensus 3.6%), up 0.2 percentage point from the previous 3.5%. Job gains slowed from 315,000 in September (revised).

Ultimately, the market results at the end of last week were a dollar decline and gold rise.

The 10-year yield stayed above 4%, but the notable rise in the 2-year yield suggests a possibility of slowing pace of future Fed rate hikes, casting doubt on that view.

Please refer to the PDF for the continuation.

【Takao Tamaki Profile】

Graduated from Kansai Gakuen University, Faculty of Economics. In 1995, he partnered with the world-renowned U.S. market analyst Raymond Meriman to issue Japan’s first market cycle and astrology reports. He is well-regarded for cycle and astrology-based market analysis. CEO of Investment Daily Co., Ltd., President of Investment Daily Publishing Co., Ltd., Director of Wakabayashi FX Associates, Member of the Japan Technical Analyst Association, Editor-in-chief of Investment Daily Alpha.

＊ Please make final investment decisions at your own responsibility.

＊ Unauthorized copying or distribution of this report constitutes a breach of contract. If such breach is detected, legal action may be taken, and distribution may be terminated even within your subscription period. Thank you for your understanding.

＊ This report does not guarantee the accuracy of future projections or profitability. Traders and readers should trade at their own risk. Neither the author nor the publisher shall be liable for the decisions of market participants. Regardless of the instrument, physical, futures, and options trading are considered high-risk.