GOLD 9/8 : What will happen to the gold CPI news?
Actualizado
Gold prices attracted some buying power during the Asian session on Wednesday and partially recovered the previous day's losses to the $1,923-$1,922 region, or four-week lows. XAU/USD is now trading just below $1,930, up nearly 0.20% on the day, though any meaningful upside still seems elusive.
A generally softer tone around the equity markets, coupled with a modest drop in the US Dollar (USD), turned out to be the main support factor for Gold prices. Weaker China trade data released on Tuesday raised concerns about a worsening outlook for the world's second-largest economy. In addition, Moody's downgraded the debt ratings of a number of US banks and reduced investor demand for riskier assets. Anti-risk money flows tend to favor safe-haven precious metals.
A generally softer tone around the equity markets, coupled with a modest drop in the US Dollar (USD), turned out to be the main support factor for Gold prices. Weaker China trade data released on Tuesday raised concerns about a worsening outlook for the world's second-largest economy. In addition, Moody's downgraded the debt ratings of a number of US banks and reduced investor demand for riskier assets. Anti-risk money flows tend to favor safe-haven precious metals.
Nota
Risk sentiment acted as the main driver so far this week. DThe US dollar extended its upbeat momentum, as venture capital flows dominated for a second straight day on Tuesday, as concerns about China's growth joined banking problems. global goods are recurring.
Nota
Gold prices fell for the second consecutive session on Tuesday. The drop was due to a further drop in open interest, which should support a near-term recovery. So far, the $1900 area emerges as good competition for the time being.Nota
SELL GOLD | 1939 - 1936🔴 SL: 1944
🟢 TP1: 1928
🟢 TP2: 1920
Nota
🕯 SELL GOLD | 1945 - 1942🔴 SL: 1950
🟢 TP1: 1932
🟢 TP2: 1922
🕯 BUY GOLD | 1890 - 1893
🔴 SL: 1885
🟢 TP1: 1903
🟢 TP2: 1913
Nota
USD🇺🇸 CPI (YoY) (Jul)Previous: 3.0%
Expect: 3.3%
Current: 3.2%
Result: Negative for USD🇺🇸
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