(Bloomberg) Retail traders in Hong Kong were dealt a blow as $1.55 billion of leveraged derivatives were wiped out during the recent stock slump, exacerbating market volatility and highlighting the risk of the popular structured product. Most Read from BloombergUpbeat Musk Can’t Soothe Tesla Investors’ Fears About GrowthRussia Says Ukraine Downed Plane Carrying Prisoners for SwapBoeing Halted From Further Max Production Increases by FAAHow Yemen’s Houthi Attacks Are Hurting the Global Supply
Gold holds the high ground as Geopolitical tension and a weaker US Dollar show little signs of let up as the Year-End approaches. Will $2080/oz be reached?
Gold enjoyed a rally toward the $2050/Oz mark before facing some selling pressure as Fed rate cut expectations continue to sway back and forth. PCE data later in the week could prove key to where Gold prices end the week.
Gold’s attempt to break back above the $2000 mark was met with selling pressure today as US CPI data provided a somewhat mixed bag. Will the FOMC assist Gold bulls or are we in for further downside?