XAUUSD - The market has stopped rising, the strategy is to sell
Recorded at 9:40 p.m. on August 31, the world gold price on the Kitco trading floor was at 1,942.99 USD/ounce, down 1.31 USD compared to the previous session.
On August 31, the US Department of Commerce said its core Personal Consumption Expenditures price index rose 0.2% last month, matching June's 0.2% increase. consistent with economists' expectations.
Meanwhile, inflation over the past 12 months increased 4.2%, up slightly from June's 4.1% increase. Annual inflation also increased in line with expectations. Looking to the broader trend, inflation remains high, more than double the Fed's 2% target. The gold market did not find any significant moves ahead of the latest prize data
Rising inflation pressure may force the Fed to maintain its hawkish bias; However, many analysts say there is a growing risk that the central bank will be forced to end the tightening cycle before inflation is reduced to standard levels.
But historical trends show that gold often has little positive reaction to non-farm payrolls, especially this year when this number continuously surprises with increases.
On August 31, the US Department of Commerce said its core Personal Consumption Expenditures price index rose 0.2% last month, matching June's 0.2% increase. consistent with economists' expectations.
Meanwhile, inflation over the past 12 months increased 4.2%, up slightly from June's 4.1% increase. Annual inflation also increased in line with expectations. Looking to the broader trend, inflation remains high, more than double the Fed's 2% target. The gold market did not find any significant moves ahead of the latest prize data
Rising inflation pressure may force the Fed to maintain its hawkish bias; However, many analysts say there is a growing risk that the central bank will be forced to end the tightening cycle before inflation is reduced to standard levels.
But historical trends show that gold often has little positive reaction to non-farm payrolls, especially this year when this number continuously surprises with increases.
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Running +20Pips
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Running +40Pips ✅✅
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HIT TP1+100Pips ✅✅
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Today is a bank holiday so we will trade Scalping today
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XAUUSD BUY 1941 -1943⚡️
🟢TP1: 1949
🟢TP2: 1956
⚠️SL: 1933
🟢TP1: 1949
🟢TP2: 1956
⚠️SL: 1933
✅TP1: 1937
✅TP2: 1932
🚫SL: 1949