Hello everyone, Krado sends some information about gold prospects next week.
⚡️The prospect of gold breaking out solely on a Fed pause in rates was challenged again this week as the yellow metal posted a weekly loss as its nemesis, the dollar, shot up instead.
⚡️But as this week began, speculation resurfaced of the Fed exercising another rate hike or more before the end of the year, in its bid to bring inflation to its annual target of 2%.
⚡️Inflation, measured by the Consumer Price Index, or CPI, fell from a four-decade high of more than 9% per annum in June 2022 to as low as 3% in June this year. But as of July, it began to perk again, reaching 3.2%. That raised the possibility of the Fed, which has already added 5% to interest rates over the past 18 months, turning aggressive again on monetary policy. Concerns over that sent the Dollar Index to six-month highs this week.
⚡️ ⚡️Congratulations on yesterday's victory of the Krado community, no matter what country you are in, Come to me, I wait for you
⚡️The prospect of gold breaking out solely on a Fed pause in rates was challenged again this week as the yellow metal posted a weekly loss as its nemesis, the dollar, shot up instead.
⚡️But as this week began, speculation resurfaced of the Fed exercising another rate hike or more before the end of the year, in its bid to bring inflation to its annual target of 2%.
⚡️Inflation, measured by the Consumer Price Index, or CPI, fell from a four-decade high of more than 9% per annum in June 2022 to as low as 3% in June this year. But as of July, it began to perk again, reaching 3.2%. That raised the possibility of the Fed, which has already added 5% to interest rates over the past 18 months, turning aggressive again on monetary policy. Concerns over that sent the Dollar Index to six-month highs this week.
⚡️ ⚡️Congratulations on yesterday's victory of the Krado community, no matter what country you are in, Come to me, I wait for you
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⚡️US yields are set to close a 2% weekly increase. Attention shifts to next week’s US CPI and Retail Sales from the US.
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⚡️Inflation, measured by the Consumer Price Index, or CPI, fell from a four-decade high of more than 9% per annum in June 2022 to as low as 3% in June this year
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⚡️The US is facing the risk of second round inflation, leaving the Fed open to raising interest rates, putting further pressure on the exchange rate
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⚡️The Fed will make another rate hike or more before the end of the year, in an effort to bring inflation to its annual target of 2%.
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⚡️Do you think after the "shark" SPDR Gold Trust released more than 3 tons of gold, the gold market will be more exciting?
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⚡️China’s disinflationary pressures influenced the yellow metal.
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⚡️XAU/USD failed to break above long-term trendline resistance and is currently hovering around the 1925.06 reversal bottom. The RSI indicator shows hesitation among traders without showing any specific trend. Upcoming data releases could fuel the trend with any move to support the USD likely causing gold prices to test resistance once again
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⚡️The plan is right, follow me
