Gold prices continue to be surrounded by difficulties
Hello everyone! Today, the gold market continues to trade below $1910. It seems that gold is moving without much momentum as it has dropped about $5 compared to the previous trading session.
The main reason for the decline in gold may come from higher-than-expected consumer price index (CPI) last month. In August, the CPI in the United States increased by 3.7% compared to the same period last year, and core CPI increased by 4.3% during that time, putting pressure on this precious metal.
The main reason for the decline in gold may come from higher-than-expected consumer price index (CPI) last month. In August, the CPI in the United States increased by 3.7% compared to the same period last year, and core CPI increased by 4.3% during that time, putting pressure on this precious metal.
Comment:
GOOD LUCK
Comment:
Andrew Hunter - Deputy Director of US Economics at Capital Economics assessed that the latest inflation data is not enough to convince the Fed to maintain its positive monetary policies.
Comment:
At the time of the survey, DXY measured greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) down 0.1%; at 104.66.
Comment:
Gold today had a rebound to 1911usd after falling to the support zone and rebounding.
Comment:
The US August producer price index increased by 0.7% compared to expectations of a 0.4% increase. Meanwhile, US retail sales in August increased 0.6% compared to market expectations of a 0.1% increase.
Comment:
Gold is moving like a chart indicator, ready to trade
