- About the technical angle.
Gold bounced fairly well yesterday to around 1985 and is currently correcting down. A good intraday buyable support zone is around 1970.
- Fundamental analysis
Gold was supported higher after important economic data from the US such as CPI, PPI and retail sales data were released weaker than expected. Currently, the market has almost "digested" the expectation that the Fed will raise interest rates by 25 basis points next week. Therefore, buying gold when adjusting to the downside is still prioritized.
Gold bounced fairly well yesterday to around 1985 and is currently correcting down. A good intraday buyable support zone is around 1970.
- Fundamental analysis
Gold was supported higher after important economic data from the US such as CPI, PPI and retail sales data were released weaker than expected. Currently, the market has almost "digested" the expectation that the Fed will raise interest rates by 25 basis points next week. Therefore, buying gold when adjusting to the downside is still prioritized.