The price of gold removed the increase in the fifth session
Gold Market Recap
Price Movement:
Current Status: Gold dropped back to $2310-$2315 after briefly rising.
Reason: Fed’s signal of only one rate cut in 2024 due to high inflation led to this pullback.
Key Economic Data:
CPI Data: May CPI was flat, and core CPI rose 0.2%, both below expectations.
Dollar Impact: The USD Index fell by 0.6% after the Fed's announcements.
Upcoming Focus:
Major Events: All eyes are on the upcoming CPI data and Fed meetings, which will shape future price movements.
Market Expectation: Neutral CPI data could maintain the current setup, but surprises are possible.
Outlook:
Technical View: Gold is weak and might attempt to push above $2325, testing $2335-$2345 before likely dropping again.
Risk: High chance of further declines, but market responses to upcoming news could change this outlook.
Price Movement:
Current Status: Gold dropped back to $2310-$2315 after briefly rising.
Reason: Fed’s signal of only one rate cut in 2024 due to high inflation led to this pullback.
Key Economic Data:
CPI Data: May CPI was flat, and core CPI rose 0.2%, both below expectations.
Dollar Impact: The USD Index fell by 0.6% after the Fed's announcements.
Upcoming Focus:
Major Events: All eyes are on the upcoming CPI data and Fed meetings, which will shape future price movements.
Market Expectation: Neutral CPI data could maintain the current setup, but surprises are possible.
Outlook:
Technical View: Gold is weak and might attempt to push above $2325, testing $2335-$2345 before likely dropping again.
Risk: High chance of further declines, but market responses to upcoming news could change this outlook.
Dagangan aktif
Join the community group for the earliest support on short scalping and trading strategies!
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/+TkyS7Rg4jN9iZjk1
✅ Knowledge of trading
✅ Support Free Trading Signals win rate 80%
FREE Chanel Signals: t.me/+TkyS7Rg4jN9iZjk1
