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Be vigilant tonight for unexpected CPI upside risks! Gold shorts are ready to go.
USA's overall inflation in October may rebound, core inflation is expected to remain strong, and the prospect of a rate cut by the Federal Reserve in December is shaky? The path with the least resistance for gold is downwards......
Gold suddenly surged! The price of gold rose by more than $15, analysts warn: This scene in the US CPI may trigger a sharp drop in the price of gold.
In Wednesday's Asian market, spot gold suddenly surged in the short term, with the price currently rising to around $2612 per ounce, a nearly $15 increase intraday. FXStreet Senior Analyst Dhwani Mehta pointed out that if US inflation data is stronger than expected, the price of gold may turn downward and fall towards the 100-day moving average of $2541 per ounce, close to the low point on September 18th.
Gold futures fell to $2600, but analysts still believe there is a long-term hedging demand.
Gold futures prices continued to decline, marking the fourth consecutive trading day of decline in the past five trading days.
Gold encountered a major bearish signal: related to Trump! The price of gold fell by $21. How should gold be traded next?
On Tuesday, as the USD reached a more than four-month high, increasing the opportunity cost for non-USD buyers to hold gold, the gold price plummeted to a near two-month low. Analyst Christian Borjon Valencia from FXStreet pointed out that there was a large outflow of funds from gold ETFs, indicating that investors are shifting towards higher-risk assets.
Shares of Precious Metals Stocks Are Trading Lower as Gold Prices Drop Amid a Rise in the US Dollar.
Gold Nosedives After Trump Victory – Commerzbank
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