GOLD (June 14) Soaring high and then turning downhill
Gold prices worldwide are at $1,947, down $10 from yesterday. While the latest inflation data initially boosted the gold market, consistently high underlying inflation has been hindering recovery and even causing gold prices to fall. Experts believe that the future of gold will mostly depend on the policy decision of the Fed on June 14, which will be based on the recently released inflation data.
The US Labor Department has just released its highly anticipated CPI data, showing a 0.1% increase in the previous month, lower than the expected 0.2% increase. In the past 12 months, consumer prices have risen by 4.0%, which is slightly lower than the expected 4.1% increase. This is the slowest inflation rate in almost two years.
The US Labor Department has just released its highly anticipated CPI data, showing a 0.1% increase in the previous month, lower than the expected 0.2% increase. In the past 12 months, consumer prices have risen by 4.0%, which is slightly lower than the expected 4.1% increase. This is the slowest inflation rate in almost two years.
✅Sell the $1,955-$1,953 range when the price hits the resistance area.
✖️Stoploss: $1,960.
AND ALWAYS REMEMBER WHAT YOU NEED TO DO IS MANAGE RISK. GOOD LUCK !!!