Focus on the consumer price index (CPI) report
Gold prices are currently at a very high level, up about 36% compared to October 2023, so there is always pressure to take profits after each strong increase.
Investors are closely monitoring the conflict in the Middle East. This is still considered a powder keg that can cause tension in the global financial market.
Investors are also paying attention to the US consumer price index (CPI) report, expected to be announced on August 14. This is considered one of the most important indicators that the Fed monitors to make decisions on monetary policy. If the CPI continues to show a downward trend in inflationary pressure, the possibility of the Fed cutting interest rates in the coming months becomes even clearer.
Gold is forecast to reach $2,500/ounce in the second half of the year. This is easier than ever when the price for December delivery has exceeded this threshold. If tensions escalate uncontrollably in the Middle East, gold prices could climb further.
Investors are closely monitoring the conflict in the Middle East. This is still considered a powder keg that can cause tension in the global financial market.
Investors are also paying attention to the US consumer price index (CPI) report, expected to be announced on August 14. This is considered one of the most important indicators that the Fed monitors to make decisions on monetary policy. If the CPI continues to show a downward trend in inflationary pressure, the possibility of the Fed cutting interest rates in the coming months becomes even clearer.
Gold is forecast to reach $2,500/ounce in the second half of the year. This is easier than ever when the price for December delivery has exceeded this threshold. If tensions escalate uncontrollably in the Middle East, gold prices could climb further.
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💵XAUUSD SELL NOW 2475 - 2477💵
✔️TP1: 2470
✔️TP2: 2460
❌SL: 2482
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