Update gold price on important CPI day
Gold Yesterday, after retesting 238x as I expected, there was a decrease to 237x.
Regarding the Main Trend, Gold I think can still continue to increase strongly.
Today everyone continues to refer to the Gold Buying Trend Plan around 2370>2374
SL 2368
City 2380>2388
If Gold retests the candlestick areas on the 238x or 239x area and shows good signs, I will update more.
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Gold charge forecast
World gold charges accelerated withinside the context of the USD index falling. Recorded at 4:00 a.m. on July 11, americaA Dollar Index measuring the fluctuation of the dollar with 6 foremost currencies turned into at 104.6952 points (down 0.11%).
Gold charges accelerated withinside the context of Chairman of americaA Federal Reserve (FED) - Mr. Jerome Powell giving a speech earlier than the Financial Services Committee of americaA House of Representatives. He reiterated that the primary bank "stays absolutely targeted on its twin mandate of selling most employment and solid charges". The FOMC believes that "the dangers to reaching our employment and inflation desires are extra balanced."
The Fed Chairman additionally emphasised that the FOMC will keep to make choices at every meeting "after cautiously comparing enter facts and their effect at the improvement outlook, stability of dangers and exposure." suitable direction of financial policy.
Asked whether or not the Fed could want to look center PCE inflation fall beneath 2% at the least as soon as withinside the coming months earlier than thinking about a fee reduce, Mr. Powell disagreed.
When requested approximately the elements the FOMC wishes to recall to guide an hobby fee reduce in September, the Fed Chairman stated: "I didn`t deliver any alerts approximately a selected date. What we stated turned into "We need to have extra confidence. That way higher inflation numbers, that inflation is coming down sustainably to 2%."
Mr. Bart Melek - head of commodity marketplace method at TD Securities economic offerings company - stated that the marketplace believes that americaA Federal Reserve (FED) is possibly to begin reducing hobby rates. subsequent September. It is that this psychology this is definitely contributing to the contemporary situations of the gold marketplace
Regarding the Main Trend, Gold I think can still continue to increase strongly.
Today everyone continues to refer to the Gold Buying Trend Plan around 2370>2374
SL 2368
City 2380>2388
If Gold retests the candlestick areas on the 238x or 239x area and shows good signs, I will update more.
--
Gold charge forecast
World gold charges accelerated withinside the context of the USD index falling. Recorded at 4:00 a.m. on July 11, americaA Dollar Index measuring the fluctuation of the dollar with 6 foremost currencies turned into at 104.6952 points (down 0.11%).
Gold charges accelerated withinside the context of Chairman of americaA Federal Reserve (FED) - Mr. Jerome Powell giving a speech earlier than the Financial Services Committee of americaA House of Representatives. He reiterated that the primary bank "stays absolutely targeted on its twin mandate of selling most employment and solid charges". The FOMC believes that "the dangers to reaching our employment and inflation desires are extra balanced."
The Fed Chairman additionally emphasised that the FOMC will keep to make choices at every meeting "after cautiously comparing enter facts and their effect at the improvement outlook, stability of dangers and exposure." suitable direction of financial policy.
Asked whether or not the Fed could want to look center PCE inflation fall beneath 2% at the least as soon as withinside the coming months earlier than thinking about a fee reduce, Mr. Powell disagreed.
When requested approximately the elements the FOMC wishes to recall to guide an hobby fee reduce in September, the Fed Chairman stated: "I didn`t deliver any alerts approximately a selected date. What we stated turned into "We need to have extra confidence. That way higher inflation numbers, that inflation is coming down sustainably to 2%."
Mr. Bart Melek - head of commodity marketplace method at TD Securities economic offerings company - stated that the marketplace believes that americaA Federal Reserve (FED) is possibly to begin reducing hobby rates. subsequent September. It is that this psychology this is definitely contributing to the contemporary situations of the gold marketplace
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