Gold increases when inflation in the United States decreases
Yesterday, gold price increased, maintained at over $ 2,700, despite the high US bond yield. The US CPI data confirmed that the deflation situation is going on, strengthening the expectation that the Federal Reserve will cut interest rates next week.
Based on the chart, it can be seen that the gold price is fluctuating on 2 ema 34 and EMA 89, showing a next gain. However, before that, the price of gold will return and test the supporting area of 2,616, if the price is maintained the ability to turn on the increase in the resistance of 2,793 is very high, and the interest rate continues to cut, the price of gold can go far away. More than 2,900.
Predict the ability to cut interest rates, with the swap rate of 92%, the next will focus on the upcoming PPI data and the number of unemployment benefits. Traders need to consider this information to be able to trade more smoothly.
Based on the chart, it can be seen that the gold price is fluctuating on 2 ema 34 and EMA 89, showing a next gain. However, before that, the price of gold will return and test the supporting area of 2,616, if the price is maintained the ability to turn on the increase in the resistance of 2,793 is very high, and the interest rate continues to cut, the price of gold can go far away. More than 2,900.
Predict the ability to cut interest rates, with the swap rate of 92%, the next will focus on the upcoming PPI data and the number of unemployment benefits. Traders need to consider this information to be able to trade more smoothly.
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