Gold maintains downward momentum, long-term analysis

13 окт. 2023 г.

Hello dear friends! Gold continues to decline as predicted, since the time of writing, gold is trading at $1872.

Last night, the US announced that the Consumer Price Index (CPI) increased by 3.7% year-on-year, higher than the forecasted 3.6%. However, the core CPI, which excludes food and energy prices, decreased from 4.3% to 4.1%, meeting market expectations. Inflation in the US is decreasing, and a strong job market will encourage the Federal Reserve (FED) to raise interest rates in November 2023 and maintain high rates for a longer period.

Due to this reason, gold sellers continue to push prices down, with an expected decrease to $1800. This downward trend will persist until any positive developments occur that lead to an increase in prices.

13 окт. 2023 г.

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13 окт. 2023 г.

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13 окт. 2023 г.

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Despite a sharp increase, the price of gold is still very difficult to break out and exceed the threshold of 2,000 USD/ounce in the near future.

15 окт. 2023 г.

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A weaker dollar and falling bond yields are adding to gold's bullish momentum.

16 окт. 2023 г.

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