The basic gold will continue to decrease
Dear friends, Gold has not seen much change in terms of volatility compared to yesterday's trading session, as it continues to trade below the key level of $1950. The focus this week will be on the US inflation data. The highlight will be the release of the Consumer Price Index (CPI) on November 14th.
The pressure on underlying inflation has eased. However, Chairman Jerome Powell's hawkish remarks prior to that pushed gold prices to their lowest level in over three weeks. Therefore, it is not surprising that any mild recovery this week will not be enough to break out of its main downward trend.
Wishing all traders success and good luck.
The pressure on underlying inflation has eased. However, Chairman Jerome Powell's hawkish remarks prior to that pushed gold prices to their lowest level in over three weeks. Therefore, it is not surprising that any mild recovery this week will not be enough to break out of its main downward trend.
Wishing all traders success and good luck.
Trade active
Comment:
In a recent statement, US Federal Reserve (Fed) Chairman Jerome Powell expected inflation to decrease slightly thanks to encouraging signs.
