Hello Traders,
Midterm election results have triggered a sharp, reactive selloff in WTI as the administration attributes ongoing market debacles directly to the Iran conflict, sparking fleeting hopes for a negotiated settlement despite Tehran's continued rejection of peace terms.
This pullback has briefly revived risk appetite across precious metals, temporarily offering respite from severe macro headwinds and a hawkish Fed.
However, with the underlying conflict persisting, the sustainability of any structural rebound for gold remains highly questionable. Let's examine the current positioning structure.
