Last week, global markets, the UK and Euro Zone inflation abroad, industrial production and retail sales data in the USA came to the fore. In the UK, consumer price index increased by 2% monthly in October, above the expectations, while annual inflation reached the highest level in 41 years with 11.1%. Eurozone consumer price index increased by 1.5% in October in line with monthly expectations, while annual inflation broke a record with 10.6%. Retail sales in the US rose 1.3% month-on-month and 8.3% year-on-year in October. Industrial production, on the other hand, decreased by 0.1% in October, despite the expectation of a monthly increase of 0.2%, and increased by 3.3% on an annual basis. An ounce of gold continues to hover above $1.700.