Inflation Cools, Gold Heats Up
In June, the United States inflation fell to 3%, which is the lowest since March 2021. This was slightly below the market's expectations of 3.1% and a significant decline from May's rate of 4%. Additionally, the core inflation rate unexpectedly dropped to 4.8%, marking its lowest level since October 2021.
The implication of this...
On Friday, 5 May 2023, Gold price got rejected from the All-time high levels of 2050-2070.
The drop resulted in formation of a DAILY BEARISH ENGULFING CANDLESTICK PATTERN as well as an EVENING STAR CANDLESTICK PATTERN at the ATH resistance levels, which shows sellers are active at this level.
Checking out previous price action, the GOLD Price is trading in a...