XAUUSD - PPI today news trading strategy

Yesterday, the market received information about US inflation data, which more or less affected gold prices. Specifically, the US consumer price index remained unchanged in October and core inflation showed signs of slowing down. CPI increased by 3.2% compared to the same period last year. This level in September was 3.7%.

Accordingly, after the inflation report was published, the market predicted a 100% possibility that the US Central Bank would keep interest rates unchanged in December compared to 86% before the inflation report. Weaker-than-expected US consumer inflation data caused the USD and Treasury bond yields to fall, thereby helping gold prices recover.

Experts say that CPI data was significantly weaker than expected, which is quite supportive for precious metals. But at the same time, he believes that gold may drop another 4% back to 1,900 USD/ounce in the near future when it no longer benefits from the safe haven channel, due to concerns related to the Israel-Hamas conflict. This expert predicts that the average price in 2024 will be 1,883 USD/ounce and increase to an average of 1,918 USD/ounce in 2025.

Comment:

💵SELL XAUUSD 1975-1978💵

✔️TP1: 1962
✔️TP2:1955
❌SL: 1985