CPI data focus, GOLD targets price increase

11 בספט׳

XAUUSD Break above $2,500 and stabilize above this key raw price, which is beneficial to the uptrend and has been the target level that has been of interest to readers over the past several weeks. This trading day, notable is the US CPI data today and the European Central Bank policy meeting tomorrow.

Today (Wednesday), the US Consumer Price Index (CPI) report for August will be released. This will be the last important macro data before the Federal Reserve's interest rate meeting in September. Whether the Federal Reserve cuts interest rates by 50 basis points may depend on this .

Surveys show that the US annual core CPI growth rate in August is expected to decline from 2.9% to 2.6%, while the annual core CPI growth rate is expected to maintain at 3.2%.
If CPI increases from last month, US Treasury yields could rise again, putting gold under some pressure. On the other hand, if the data is at or below market expectations, it will cause the US Dollar to continue to sell off, helping gold move higher.

Unless CPI is much higher than expected, the Fed could cut interest rates by 25 basis points in September. If month-over-month CPI growth is lower than expected, a 50 basis point cut is possible. will happen.

Geopolitical risks have a new point
Israel may have 'accidentally killed' US activists in attack on Palestinian camp, leaving 19 dead.
Israel's military said Tuesday that a U.S. activist killed in the West Bank last week may have been shot "indirectly and unintentionally" by Israeli soldiers, a move that drew strong condemnation from U.S. Secretary of State Antony Blinken strong.
Israel said it has opened a criminal investigation into the murder of 26-year-old Seattle activist Aysenur Ezgi Eygi.
Blinken condemned the deadly shooting when asked about it at a news conference in London and said the United States would make clear to allies that such behavior was "unacceptable."

According to AP News, Palestinian officials said Israel attacked a crowded Palestinian camp in the Gaza Strip early Tuesday morning local time, killing at least 19 people and injuring 60 others.
Elsewhere, Reuters reported that Ukraine carried out its largest drone attack to date in the Moscow region on Tuesday, killing at least one person and destroying dozens of homes and businesses. forcing about 50 flights to be diverted from airports around Moscow.

Obviously, geopolitical risks are still present, and every time the market is quiet it appears as a huge supportive force for gold prices. Therefore, considering the current geopolitical context, gold is always supported, because gold is always the leading safe haven asset whenever risks appear in the market.

Analysis of technical prospects for XAUUSD
On the daily chart, gold continues its uptrend with the previous two consecutive days of gains from the key near-term support area that has been presented to readers over the past several periods, at the EMA21 level confluence with the lower edge of the price channel and 0.786% Fibonacci Extension level.

On the other hand, the horizontal support level at 2,484 USD is also a reliable short-term support level for the uptrend.
There is not much change in the upward structure of gold prices, the multi-week target levels continue to be fixed at 2,531 USD in the short term and more at 2,544 USD.

The relative strength index RSI is also bent upward with a pretty good slope, this is a positive signal depicting the wide room for price growth ahead.

During the day, the rising prospect of gold prices will be noticed by the following technical levels.
Support: 2,503 – 2,500USD
Resistance: 2,531 – 2,544USD

SELL XAUUSD PRICE 2546 - 2544⚡️
↠↠ Stoploss 2550

→Take Profit 1 2539
↨
→Take Profit 2 2534

BUY XAUUSD PRICE 2495 - 2497⚡️
↠↠ Stoploss 2491

→Take Profit 1 2503
↨
→Take Profit 2 2508

11 בספט׳

הערה

Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve’s potential interest rate cut next week.

11 בספט׳

הערה

According to data released by the Bureau of Labor Statistics, the US core CPI increased 0.3% m/m, the highest level in three months and increased 3.2% over the same period. Economists argue that the core CPI is a better indicator of the underlying detectability of headline CPI. The index increased 0.2% m/m and 2.5% year-on-year in August, marking the fifth straight month the index cooled, making fuel prices cheaper. BLS said housing was the "key factor" in the acceleration in the CPI core.

12 בספט׳

הערה

Gold prices are leveling off, accumulating in the range of 2,500 USD to 2,531 USD. Momentum remains positive though, as shown by the RSI moving sideways above the neutral line, suggesting both buyers and sellers are cautious.

12 בספט׳

הערה

12 בספט׳

הערה

The PPI index increased by 0.2% m/m, 0.1% m/m higher than the previous month, according to a report by the US Bureau of Labor Statistics on Thursday. The median forecast in a Bloomberg survey showed economists predicting a 0.1% m/m increase. The PPI index also increased by 1.7% y/y, the lowest level since the beginning of 2024.

13 בספט׳

הערה

World gold prices increased sharply in the trading session on Thursday (September 12), setting an all-time record, after US inflation data increased the possibility of the Federal Reserve (Fed) sharply cutting interest rates. hand next week. In addition, the European Central Bank's (ECB) move to reduce interest rates also supported precious metal prices.

15 בספט׳

הערה

Gold prices jumped in the international market in the context of the US Federal Reserve's (FED) policy meeting approaching, and the market expected the US to cut interest rates for the first time in recent times. The plummeting USD also supported the strong rise of gold prices.

16 בספט׳

הערה

Gold price this morning reached 2,579 USD/ounce, down 1.5 USD compared to the previous session but still anchored in the record high price range. Previously, there was a time when the gold price reached 2,586 USD, setting an all-time record