Gold remains weak. Despite the Dollar weakness seen yesterday Gold could not move close to the $1,210-15 resistance area for a bounce. Price made a low at $1,196 and is now trading at $1,203.70. Trend remains bearish. Gold could bounce higher but overall I expect new short-term lows.

On Monday, the 12th of November, the event calendar is light in important data releases as Canada and the US are on Bank holiday. In the following days, the American part of the trading session will be the most interesting in terms of business sentiment in the face of a divided Congress, the topic of trade wars and recent turmoil in the stock market.

On Friday, the 9th of November, the event calendar is busy with important data releases. The event of the day is the UK GDP and Industrial Production data release. Moreover, there are other data to keep the eye on, like Industrial Production data from France and Germany, PPI and Core PPI data from the US together with the UoM Consumer Sentiment data release. There is a speech from FOMC Member Randal K. Quarles scheduled later in the day as well.