CPI Shadow Haunts Gold
Gold held around US$4,984/oz during the Asian session, trying to stabilize after a sharp correction. Movement remains cautious as the market awaits new triggers.
The main fundamental remains the US CPI: inflation data will re-determine Fed interest rate expectations. Strong US jobs data previously reduced the likelihood of a near rate cut (the dollar/yield remained relatively supported), so gold remains highly data-dependent.
The gold price at the time of this analysis is $4,983
- Buy if the price moves below $4,996
- Sell if the price moves below $4,976
Resistance 2: $5,024
Resistance 1: $5,004
Support 1: $4,964
Support 2: $4,944
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider the influence of fundamental and technical developments on trading before making any investment decisions.
Source: Newsmaker.id