From a long-term perspective, there is a lot of room for gold to rise!
Yesterday's CPI data was lower than expected. Gold was slightly bullish but plummeted 1% from a peak of 2476 to 2437 and closed at 2447.
In early trading today, gold fluctuated within a narrow range, with slight signs of recovery compared to yesterday. It is currently fluctuating at 2453.
In addition, there are several factors that you must consider!
1 Political situation in the Middle East: Tensions between Iran and Israel may have eased recently, and conflicts between Ukraine and Russia may further intensify.
2 The U.S. interest rate cut in September is a certainty, whether it will be 25% or 50%
The motivation for gold’s rise today on the daily chart is a bit lacking
Support level 2448 2438 2420
Resistance level 2460 2467 2480