Looking ahead, the lack of US data this week may be a challenge for Gold bulls looking for the rally to continue.
The focus in the coming days may rest on the geopolitical risk angle which continues to intrigue and frustrate in equal measure. Without delving too deep into the specifics, any escalation on any front may result in further haven demand.
Liquidity may continue to thin ahead of Christmas day and this may also scupper any further major moves. However, I could be wrong given that I assumed this entire week may see limited moves which of course has not been the case.
There is some high impact US data ahead tomorrow in the form of GDP 3rd quarter release. Market consensus is for a YoY print of around 3.2%.
