After CPI, focus on PPI and GOLD towards target

12 сент.

XAUUSD Spot trading recovered after falling in yesterday's trading session due to the impact of US data, but these impacts will not be too negative for gold's uptrend in terms of both fundamental and technical aspects. .

The US CPI report creates obstacles for the Fed's ability to cut interest rates by 50bps
• The U.S. Bureau of Labor Statistics reported Wednesday that the U.S. consumer price index (CPI) rose 0.2% month-over-month in August, in line with market expectations.
• US CPI in August increased by 2.5% over the same period last year, decreasing for the 5th consecutive month, in line with market expectations and lower than the previous level of 2.9%.
• However, it is worth noting that core CPI in the United States increased 0.3% month-on-month in August, the largest increase in 4 months and a higher increase than the expected increase of 0.2%. . (Typically the core inflation rate reflects underlying inflation better than the overall CPI).
• US core CPI increased 3.2% year-on-year in August, in line with forecasts.

Higher-than-expected US core inflation data will become an issue for the Federal Reserve over the possibility of a 50 basis point interest rate cut in the next FOMC.
The focus now is on monthly core CPI data, which tends to raise concerns about persistent inflation. This could completely cause the FOMC to appear in the near future to oppose a strong interest rate cut, or no 50bps cut.

According to CME's "FedWatch" tool, markets now assess an 87% chance the Fed will cut interest rates by 25 basis points next week, compared with a 71% chance before the CPI data was released. This metaphor will change over time, especially after data is released, describing how market sentiment is leaning towards the Fed's interest rates.

Markets will now focus on the release of the US producer price index and initial jobless claims today (Thursday).

Basically, as we have sent to readers throughout recent publications, even if the impact of the data is not good, gold will still receive support from monetary policy, because the Fed will have to start the cycle. interest rate cut period.
Some readers have asked, how much will gold increase and when will it increase? I certainly will not be able to answer this question. But it can be easily seen that gold will still have conditions to increase until the Fed stops reducing interest rates, and when the Fed stops reducing interest rates, I don't know anymore because I have some friends in the US but don't. Who is Jerome Powell?

Analysis of technical prospects for XAUUSD
On the daily chart, after gold corrected downward in yesterday's trading session and received support from the support confluence area noticed by readers at EMA21 and the lower edge of the price channel and the 0.786% Fibonacci extension, It has recovered and continued its short-term uptrend.

The target level and short-term upside structure are unchanged with a target of $2,531 in the short term, more than $2,544 to set a new all-time high.
The relative strength index RSI is pointing up, still quite far from the overbought level, showing that there is still wide room for price growth ahead.

During the day, gold's uptrend will be noticed again by the following technical levels.
Support: 2,503 – 2,500 – 2,484USD
Resistance: 2,531 – 2,544USD

SELL XAUUSD PRICE 2546 - 2544⚡️
↠↠ Stoploss 2550

→Take Profit 1 2539
↨
→Take Profit 2 2534

BUY XAUUSD PRICE 2489 - 2491⚡️
↠↠ Stoploss 2485

→Take Profit 1 2496
↨
→Take Profit 2 2501

12 сент.

Заметка

12 сент.

Заметка

The PPI index increased by 0.2% m/m, 0.1% m/m higher than the previous month, according to a report by the US Bureau of Labor Statistics on Thursday. The median forecast in a Bloomberg survey showed economists predicting a 0.1% m/m increase. The PPI index also increased by 1.7% y/y, the lowest level since the beginning of 2024.

13 сент.

Заметка

World gold prices increased sharply in the trading session on Thursday (September 12), setting an all-time record, after US inflation data increased the possibility of the Federal Reserve (Fed) sharply cutting interest rates. hand next week. In addition, the European Central Bank's (ECB) move to reduce interest rates also supported precious metal prices.

15 сент.

Заметка

Gold prices jumped in the international market in the context of the US Federal Reserve's (FED) policy meeting approaching, and the market expected the US to cut interest rates for the first time in recent times. The plummeting USD also supported the strong rise of gold prices.

16 сент.

Заметка

Gold price this morning reached 2,579 USD/ounce, down 1.5 USD compared to the previous session but still anchored in the record high price range. Previously, there was a time when the gold price reached 2,586 USD, setting an all-time record

16 сент.

Заметка

Gold has reached a new peak when it exceeded 2,588 USD/ounce.

Gold prices continue to rise and there is no end in sight - especially when central banks are moving to cut interest rates.

16 сент.

Заметка

Gold prices retraced most of the session's upward momentum after hitting a historic peak

Gold prices are currently trading around $2,580 on Monday, after hitting an all-time high of $2,589 during the session. Gold prices have stabilized after strong gains on Thursday and Friday but the overall trend remains bullish.