Hello dear friends, Gold today has shown its first signs of decrease after a week of continuous price increases. Currently, this precious metal is trading at $1873.
With higher-than-expected inflation data announced on Thursday (US time), it has taken away the gains that gold had previously enjoyed due to safe-haven buying pressure, forcing the Federal Reserve to keep interest rates at a prolonged limited level.
Although gold has reached its highest level in 2 weeks and is very close to $1900 per ounce, it has not been able to maintain that increase. The higher CPI data from the US has limited the upward momentum of gold on Wednesday. This has put pressure on gold and it is likely to have a downward trend in the near future. My target is $1835.
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good luck
Trade closed: target reached
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Does anyone wait for a sell?
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After the CPI report, gold traders quickly realized that gold would not increase above $ 1,900.
Earlier, the dollar increased when the US bond interest rate increased the highest of the day since July. The yield compared to the 10 -year treasury bond reached 4.708%, up 2.46% a day. The output has almost decreased after reaching the highest level in 16 years of 4,892 on Friday.