Gold has corrected below the psychological $1,500 level, but found support as geopolitical tension remain high and the global economy accelerates its slowdown. Chinese GDP data came in below expectations, but September saw a pick-up in industrial production as well as retail sales. Japan showed that inflation remains absent in a country no strange to deflationary pressures. How will gold trade heading into the weekend? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this precious metal.

Turkey agreed to a five-day cease fire as Kurdish forces retreat. The Turkish military operation into Syria has supported the price of gold and is anticipated to continue to do so. Lack of clarity and details about the partial US-China trade deal as well as this Saturday’s UK Parliament vote on the announced new Brexit deal between the EU and the UK also adds to demand for this precious metal. How will today’s developments impact Gold? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.