Pressure is increasingly weighing on gold prices
XAU/USD ended Wednesday's trading session at its lowest price in three weeks, hitting a new low of $1,905 as the inflationary backdrop in the US continued to frustrate gold investors.
Gold continues to be rejected from $1,940.00 after last week's action saw the yellow metal fall back as US Treasury yields and the US Dollar (USD) continued to trouble scarf on the Gold chart. The precious metal has broken away from yearly highs above $2,060.00.
The US consumer price index (CPI) rose 0.6% in August, up sharply from 0.2% the previous month, and inflation concerns weighed on XAU/USD. Annual CPI increased 3.7% compared to market estimates of 3.6%.
Rising inflation in the US is causing the market to reassess the possibility that the Federal Reserve (Fed) will raise interest rates further, although the Fed seeks to keep interest rates stable at its interest rate meeting next week.
Gold continues to be rejected from $1,940.00 after last week's action saw the yellow metal fall back as US Treasury yields and the US Dollar (USD) continued to trouble scarf on the Gold chart. The precious metal has broken away from yearly highs above $2,060.00.
The US consumer price index (CPI) rose 0.6% in August, up sharply from 0.2% the previous month, and inflation concerns weighed on XAU/USD. Annual CPI increased 3.7% compared to market estimates of 3.6%.
Rising inflation in the US is causing the market to reassess the possibility that the Federal Reserve (Fed) will raise interest rates further, although the Fed seeks to keep interest rates stable at its interest rate meeting next week.
הערה:
After the European Central Bank's Monetary Policy Committee meeting on Thursday, most members of the committee, led by Governor Christine Lagarde, agreed to raise the key interest rate by 25 basis points to 4.50%.
הערה:
Gold yesterday had a slight increase in price when the price fell to the psychological support zone of 1900 after a series of good news announced for the USD.
The US producer price index (PPI) announced today reached 0.7% in August compared to the forecast of 0.4% and higher than the previous month's increase of 0.4%. Despite increased inflationary pressure from the release of PPI data, most of the increase was due to rising gasoline and energy prices
The US producer price index (PPI) announced today reached 0.7% in August compared to the forecast of 0.4% and higher than the previous month's increase of 0.4%. Despite increased inflationary pressure from the release of PPI data, most of the increase was due to rising gasoline and energy prices
הערה:
Harga emas dengan hati-hati menargetkan penurunan dalam beberapa hari terakhir, memperpanjang penurunan yang lebih luas sejak bulan Mei. Yang memandu logam kuning ini ke bawah adalah garis tren turun dari bulan Mei. Baru-baru ini, XAU/USD menolak garis support naik sebelumnya dari bulan November ketika melewati garis tren menurun, membuka kemungkinan penurunan lebih lanjut.
SL:1904
TP1: 1915
TP2: 1920