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Several major events are set for the coming weeks, including a U.S. Federal Reserve decision on Wednesday, U.S. elections next week, the Quarterly Refunding Announcement shortly after, and new inflation data.
James Stanley, who is a Senior Strategist at DailyFX, stated that, in his view, Warsh may attempt to influence the market but likely has little ability to lower expectations for a December rate hike.
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James Stanley previously commented that gold has remained in consolidation, with sellers appearing near $4,200 and a breakout above $4,235 needed to generate further action, according to an earlier report. In a separate note, Stanley said spot gold was approaching its longest period without a weekly close below $4,000 ahead of an FOMC meeting scheduled for the following week, as reported here. His recent market observations continue to focus on technical levels and major policy events.