Gold vs CPI
Updated
gold price are again going up from 1760 again
why ?
since biden speech (people have more money in their pocket, infrastructure bill will not cause inflation ) it is going up everyday in nyc session
support 1760 (bottom of the trend)
1776
resistance 1795 (ten year old gold resistance)
1802
why ?
- weaker nfp
- higher cpi (may be 7% this time)
- political failure on corona virus
- fed panic over 7% inflation
- investor fear of recession because of rate hike
since biden speech (people have more money in their pocket, infrastructure bill will not cause inflation ) it is going up everyday in nyc session
support 1760 (bottom of the trend)
1776
resistance 1795 (ten year old gold resistance)
1802
Note
fomo for cpi Note
first resistance tested after retest of support 1776
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.