Gold prices continue to be surrounded by difficulties
Updated
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.
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GOOD LUCKNote
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.Note
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.Note
Gold today had a rebound to 1911usd after falling to the support zone and rebounding.Note
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.Note
Gold is moving like a chart indicator, ready to trade
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