XAUUSD - The market waits immediately, should I buy or sell?
World gold prices today (September 12) increased slightly as the USD index decreased. Private investors are waiting for the next important US data which is the consumer price index report for August tomorrow (September 13). CPI is expected to increase 4.3% year-over-year, hence the 4.7% increase in the July report.
The European Central Bank also holds its regular monetary policy meeting this week and is expected to raise its key interest rate by 0.25%.
Many analysts have noted that gold is in a neutral trading range as the sector continues to be fed by rising bond interests and the strength of the US dollar.
Although gold has been reasonably resilient through 2023, some analysts say the reflation, with oil prices trading near a recent one-year high, is forcing the Reserve The US Federal Reserve (Fed) must maintain higher monetary policies for longer, which creates additional economic fundamentals.
The gold analyst said there is still scope to test support around $1,900 an ounce in the current environment.
The European Central Bank also holds its regular monetary policy meeting this week and is expected to raise its key interest rate by 0.25%.
Many analysts have noted that gold is in a neutral trading range as the sector continues to be fed by rising bond interests and the strength of the US dollar.
Although gold has been reasonably resilient through 2023, some analysts say the reflation, with oil prices trading near a recent one-year high, is forcing the Reserve The US Federal Reserve (Fed) must maintain higher monetary policies for longer, which creates additional economic fundamentals.
The gold analyst said there is still scope to test support around $1,900 an ounce in the current environment.
🟢TP1: 1920
🟢TP2: 1915
🔴SL: 1932