XAU spikes after news
Previously, gold was under pressure from expectations of a 50 basis point interest rate cut by the US Federal Reserve (Fed) at its policy meeting next week, which is cooling down after the August consumer price index report increased.
According to the latest report, the US CPI in August increased by 2.5% compared to the same period, lower than the forecast of 2.6% and down significantly from 2.9% in July.
According to experts, the August CPI report shows that the US core inflation is still high, not enough to make the Fed decide to cut interest rates by 50 basis points.
According to the latest report, the US CPI in August increased by 2.5% compared to the same period, lower than the forecast of 2.6% and down significantly from 2.9% in July.
According to experts, the August CPI report shows that the US core inflation is still high, not enough to make the Fed decide to cut interest rates by 50 basis points.
Note
SELL XAU 2570
TP1: 2560
TP2: 2550
SL: 2577
Note
Running + 50 pips 
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