Gold Steady After CPI, PPI in Focus
Gold held steady on Wednesday (August 13th), as investors weighed the Federal Reserve's policy outlook following the latest CPI release. Tariff-fueled inflation concerns and strengthened expectations of a 25 bps Fed rate cut in September, boosting the appeal of non-yielding bullion. Market focus will now turn to the upcoming US data series on PPI, weekly jobless claims, and retail sales to test the consistency of the disinflationary trend and the direction of monetary policy.
Meanwhile, regulatory uncertainty continues to cloud sentiment. Market participants await clarity on the status of gold import tariffs after conflicting signals: President Trump stated on Monday there would be no levies, but last week Customs and Border Protection classified 1-kilogram and 100-ounce gold bars under a customs code that makes them potentially subject to tariffs.
The gold price at the time of writing was at $3,349/Toz.
- Buy if the price moves to around $3,356
- Sell if the price moves around $3,342
Resistance 2: $3,370
Resistance 1: $3,363
Support 1: $3,335
Support 2: $3,328
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
