"Gold Faces Pressure as Investors Await Key US Inflation Data"
On Monday, gold dipped below $1,940 per ounce, encountering renewed downward pressure as investors brace themselves for crucial US inflation data scheduled for release this week, data that could potentially shape the course of interest rates.
The US consumer price index report is set to be unveiled on Thursday, followed by the producer price index report the subsequent day.
In the preceding week, statistics revealed that the US economy added 187,000 jobs in July, falling short of the market's anticipation of a 200,000 increase. Nevertheless, the unemployment rate unexpectedly dropped to 3.5%, while wage growth slowed down by a margin smaller than predicted.
Since mid-July, the metal has faced downward pressure due to signs of resilience in the US economy and the prevailing belief that the Federal Reserve will uphold a restrictive monetary policy for a considerable duration, dampening market sentiment.
XAUUSD
SELL LIMIT 1942 - 1945 🔥🔥
TP1 ✔️ 1937
TP2 ✔️ 1932
SL ❌ 1948
The US consumer price index report is set to be unveiled on Thursday, followed by the producer price index report the subsequent day.
In the preceding week, statistics revealed that the US economy added 187,000 jobs in July, falling short of the market's anticipation of a 200,000 increase. Nevertheless, the unemployment rate unexpectedly dropped to 3.5%, while wage growth slowed down by a margin smaller than predicted.
Since mid-July, the metal has faced downward pressure due to signs of resilience in the US economy and the prevailing belief that the Federal Reserve will uphold a restrictive monetary policy for a considerable duration, dampening market sentiment.
XAUUSD
SELL LIMIT 1942 - 1945 🔥🔥 TP1 ✔️ 1937
TP2 ✔️ 1932
SL ❌ 1948
