Chinese industrial profits contracted for a second consecutive month, but traders grew more confident that a permanent resolution to the US-China trade war can be found. Solid third-quarter earnings season has further boosted optimism that companies have performed well despite the uncertainties. Gold managed to advance as risks remain, a range of economic data out of the US has indicated the slowdown is accelerating. How will this precious metal perform to start the fresh week? Today’s fundamental analysis will take a look at price action in both directions.

Traders will also focus on today’s vote in the UK Parliament in regards to PM Johnson’s call for a snap election on December 12th 2019. With the Labour Party expected to oppose such a move and the DUP also against it, PM Johnson will have an uphill battle to secure two-thirds of the vote. Brexit uncertainty remains which is anticipated to keep upside pressure on gold, will bulls capitalize on it? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.