Gold prices increased due to coincident CPI data
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Over the same period, CPI increased by 3.4%, matching forecasts. This is positive news for the US Federal Reserve (Fed).
Cooling inflation will help the Fed soon make a decision to lower interest rates, to support the US economy, which is showing more signs of slowing down. Cooling inflation will also soothe the psychology of US investors and consumers.
The possibility of the Fed lowering interest rates at its September meeting increases.
Gold prices increased because tensions in Ukraine and the Middle East still show no signs of cooling down. Russia is attacking on many fronts in Ukraine and fierce fighting is occurring. Meanwhile, in the Middle East, Iran recently said it would create a nuclear bomb if threatened by Israel.
With signals from cooling US commodity prices, it is likely that the USD will continue to sag and possibly weaken as the time until the September meeting gradually shortens.
Recently, many forecasts say that gold prices may weaken this summer, possibly in May and June when the Fed delays lowering interest rates. However, if inflation in the US continues to be controlled and the US economy shows signs of weakening, gold has the opportunity to increase its score following the weakening of the USD.
Cooling inflation will help the Fed soon make a decision to lower interest rates, to support the US economy, which is showing more signs of slowing down. Cooling inflation will also soothe the psychology of US investors and consumers.
The possibility of the Fed lowering interest rates at its September meeting increases.
Gold prices increased because tensions in Ukraine and the Middle East still show no signs of cooling down. Russia is attacking on many fronts in Ukraine and fierce fighting is occurring. Meanwhile, in the Middle East, Iran recently said it would create a nuclear bomb if threatened by Israel.
With signals from cooling US commodity prices, it is likely that the USD will continue to sag and possibly weaken as the time until the September meeting gradually shortens.
Recently, many forecasts say that gold prices may weaken this summer, possibly in May and June when the Fed delays lowering interest rates. However, if inflation in the US continues to be controlled and the US economy shows signs of weakening, gold has the opportunity to increase its score following the weakening of the USD.
Nota
SELL XAU 2390TP1: 2382
TP2: 2375
SL: 2399
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