GOLD rose for two consecutive sessions after inflation data

12 באוק׳

XAUUSD rose on Friday (October 11), after US inflation data reinforced the prospect of lower interest rates this year, keeping the dollar below recent peaks, amid haven demand. Safety stemming from geopolitical tensions in the Middle East also boosted gold.

At the end of the trading session on October 11, the spot gold contract increased 1% to 2,656.09 USD/oz, increasing for the second consecutive session. Gold futures contracts added 1.3% to 2,674.40 USD/oz.

The PPI producer price index in the US was unchanged in September, showing that the inflation outlook remains favorable and supporting expectations that the US Federal Reserve (Fed) will lower interest rates next month.

The PPI data looks friendly to precious metals bulls and shows that the Fed is still on track to lower interest rates this year.

This data comes after CPI data in the US rose slightly higher than forecast last month, however, the annual inflation increase was at the lowest level in more than 3 and a half years.

The dollar steadied below a 2-month peak on Friday.

On the physical front, gold dealers in India charged premiums for the first time in two months this week as the upcoming festive season attracted some buying of copper jewellery.

Gold holdings of ETFs increased to nearly 95 tons in the third quarter. This means ETFs are contributing positively to gold demand again for the first time in 10 quarters.

13 באוק׳

הערה

Next week, the market will receive consumer data to see whether consumer spending in the US continues to hold steady or not. Some analysts note that in the short term, any strong economic data that weighs on the Fed's easing cycle could pressure prices.

13 באוק׳

הערה

14 באוק׳

הערה

World gold prices started a new trading week this morning (October 14) in a downtrend, when the USD set a new 2-month peak in the context that the market no longer had hope for the US Federal Reserve (US Federal Reserve). Fed) will lower interest rates with a large reduction in the next meeting. The possibility that the European Central Bank (ECB) will lower interest rates this week is also boosting the price of the greenback, thereby putting downward pressure on gold prices.

14 באוק׳

הערה

- XAUUSD came under pressure last week before returning above $2,650/troy ounce. The strong recovery shows that the trend is likely to continue, especially after breaking through the channel.

14 באוק׳

הערה

Gold price fell below 2,647 USD/oz

Gold prices have now fallen below 2,650 USD/oz after rising above 2,666 USD/oz during the session.

15 באוק׳

הערה

World gold prices fell in the trading session on Monday (October 14), when the USD hit a new 2-month peak and China's economic stimulus measures were not enough to bring confidence to investors. Forecasters maintain an optimistic view on the medium and long-term gold price outlook, including the possibility of this precious metal reaching the price mark of 3,000 USD/oz.

15 באוק׳

הערה

The story of Europe has entered a new chapter. At the most recent meeting, the European Central Bank (ECB) seemed in no hurry to cut interest rates deeper. However, now the market is almost certain that the ECB is about to lower interest rates.

16 באוק׳

הערה

Gold extended Tuesday's gain to $2,670/oz