Published: 2022.11.18. Pepperstone: December is an active month for gold

Pepperstone: December is an active month for gold - Preview

This year has not been the easiest for gold investors. “This has been a disappointing year for gold investors and holding long positions has come at a cost, especially with cash proving to be a risk-free asset class,” the expert explained.
“In the short term, however, conditions will be favorable for gold and December should be very busy,” Weston said. Influencing factors are likely to be the data on unemployment in the US, the inflation report for November and the FOMC meeting, which will be held on December 15.
“Positioning in gold futures is net short, and positioning in options is neutral. We are entering a seasonally strong period for long positions in US equities, and if equities rise through the end of the year, funds will reverse their dollar hedges, pushing up the price of gold,” Weston said.