Gold fell again, selling trend today

After peaking at 1,282 USD/ounce, the world's gold price today, March 13, was sold very strongly when inflation in the US increased slightly and the USD increased in value compared to many other foreign currencies.

Gold prices reversed sharply today after the US announced data related to inflation that was slightly higher than forecast.

Specifically, the consumer price index (CPI) in February in the US increased by 3.2%, 0.1 percentage point higher than the market expectation of an increase of 3.1%.

CPI increased slightly, making investors worry that inflation in the US may heat up. This may cause the FED to maintain high interest rates for a long time. Accordingly, they increase their holdings of USD to help this currency increase in value. Gold price today is in a disadvantageous position.

On the other hand, US bond interest rates jumped from 4%/year to 4.14%/year, motivating many people to put capital into bonds. Meaning very little money flows into precious metals. Gold prices today are under more pressure to go down.

הערה:

💵XAUUSD SELL 2160 - 2162💵

✔️TP 2145
✔️TP 2130

❌SL 2182