Gold Continues Gains After US CPI Data
Gold prices rose for a second straight day on Wednesday (15/1) after US data signaled fading core inflation and a decline in US yields. This suggests that the Federal Reserve (Fed) could ease policy due to the disinflationary trend.
Gold continued its positive trend after the US Bureau of Labor Statistics (BLS) revealed that underlying consumer inflation fell compared to estimates and the previous month's reading. The data caused US yields to fall, as there is an increasing possibility that the Fed will not rule out a rate cut after its December meeting.
RECOMMENDATION
- Buy if the price moves to around $ 2,697
- Sell if the price moves to around $ 2,687
Resistance Level 2: $ 2,711
Resistance Level 1: $ 2,703
Support Level 1: $ 2,681
Support Level 2: $ 2,673
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to developments in fundamental and technical aspects in trading before making investment decisions.
Source: Newsmaker.id