GOLD recovers, pay attention to US CPI and PPI

10 wrz

XAUUSD recovered and increased in the early part of the week, following both the fundamental and technical trends sent to readers in weekly publications and publications throughout the past time. This week the market is still waiting for the US inflation report to further evaluate the interest rate direction of the US Federal Reserve.

Investors will now focus on US consumer price (CPI) data for August on Wednesday and producer price index (PPI) on Thursday.
If inflation data is much weaker than expected and raises expectations for a 50 basis point cut, gold prices will have enough fundamental momentum to aim for a new all-time record. But even if the market agrees to cut 25 basis points, gold prices will not decrease significantly because the Fed will definitely cut interest rates this September.

The situation in the Middle East remains tense, which creates momentum for gold prices to recover
According to Agence France-Presse, Israel's airstrike on central Syria on September 8, local time, killed at least 14 people.
According to Iranian media reported on September 8 local time, regarding the death of Hamas leader Haniyeh in the attack in Tehran, Commander of the Iranian Islamic Revolutionary Guard Corps Hossein Salami said that day. Iran will certainly not let Israel carry out its evil actions. He reiterated that Iran's retaliatory measures will be very different.
Haniyeh was assassinated in Tehran, the capital of Iran, on July 31. Hamas and Iran determined that the assassination was carried out by Israel and Iran firmly vowed to retaliate. Israel has so far neither acknowledged nor denied Haniyeh's assassination.

Gold is a haven asset that is sensitive to geopolitical risks, so any new points that occur are a significant support for gold prices.

Gold ETFs increased their net gold holdings for the fourth consecutive month
• Gold ETFs increased their net gold holdings for the fourth consecutive month and funds in all regions saw net gold inflows, with Western funds leading the gains. Globally, gold ETF holdings increased by 28.5 tons of gold in August.
• According to the World Gold Council (WGC), strong movements in gold prices have led to the exercise of at-the-money call options on major gold ETFs, generating large capital inflows at expiration.
European funds had net inflows of 7.9 tons of gold, amounting to $362 million, with Swiss and British funds leading the increase, and the eurozone and safe-haven buying driving push gold prices up.
“Inflows related to foreign exchange hedging products have been significant, especially in Switzerland, against the backdrop of local currency appreciation against the US dollar,” the World Gold Council said. .
• The amount of gold flowing into Asian funds slowed down but still maintained positive growth for 18 consecutive months, reaching 0.3 tons.
India continues to lead gold capital flows into the region and reported its strongest month since April 2019. The recent reduction in import duties has boosted the Indian gold market.
Japan also reported significant capital inflows for the sixth consecutive month.
• Funds in other regions increased their holdings by 3.2 tons and gold holdings in the Australian ETF increased for three consecutive months.
Gold flows into ETFs could have a significant impact on global gold markets by boosting overall demand.
ETFs are a convenient way for investors to invest in the gold market, but owning an ETF also has many differences from holding physical gold.

Analysis of technical prospects for XAUUSD
Although gold has had significant downward corrections, the recovery from the technical level of 2,484 USD to above the original price of 2,500 USD is positive signals for the uptrend.

In the short term, gold tends to increase with the price channel as the short-term trend and the nearest support is noticed at the 21-day moving average (EMA21).

As long as gold remains above the 0.786% trend Fibonacci extension, it still has enough upside prospects with a recent target at $2,531 in the short term and more than $2,544.

During the day, gold's uptrend will be noticed by the following technical levels.
Support: 2,500 – 2,484USD
Resistance: 2,503 – 2,531 – 2,544USD

SELL XAUUSD PRICE 2519 - 2517⚡️
↠↠ Stoploss 2523

→Take Profit 1 2512
↨
→Take Profit 2 2507

BUY XAUUSD PRICE 2471 - 2473⚡️
↠↠ Stoploss 2467

→Take Profit 1 2478
↨
→Take Profit 2 2483

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11 wrz

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World gold prices increased in the trading session on Tuesday (September 10), as investors waited for the US to release the consumer price index (CPI) report on Wednesday. Although the key milestone of 2,500 USD/oz is maintained, analysts believe that gold prices are in need of a new catalyst to truly break out.

11 wrz

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11 wrz

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Gold prices steadied on Wednesday, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve’s potential interest rate cut next week.

11 wrz

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According to data released by the Bureau of Labor Statistics, the US core CPI increased 0.3% m/m, the highest level in three months and increased 3.2% over the same period. Economists argue that the core CPI is a better indicator of the underlying detectability of headline CPI. The index increased 0.2% m/m and 2.5% year-on-year in August, marking the fifth straight month the index cooled, making fuel prices cheaper. BLS said housing was the "key factor" in the acceleration in the CPI core.

12 wrz

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Gold prices are leveling off, accumulating in the range of 2,500 USD to 2,531 USD. Momentum remains positive though, as shown by the RSI moving sideways above the neutral line, suggesting both buyers and sellers are cautious.

12 wrz

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The PPI index increased by 0.2% m/m, 0.1% m/m higher than the previous month, according to a report by the US Bureau of Labor Statistics on Thursday. The median forecast in a Bloomberg survey showed economists predicting a 0.1% m/m increase. The PPI index also increased by 1.7% y/y, the lowest level since the beginning of 2024.

13 wrz

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World gold prices increased sharply in the trading session on Thursday (September 12), setting an all-time record, after US inflation data increased the possibility of the Federal Reserve (Fed) sharply cutting interest rates. hand next week. In addition, the European Central Bank's (ECB) move to reduce interest rates also supported precious metal prices.

15 wrz

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Gold prices jumped in the international market in the context of the US Federal Reserve's (FED) policy meeting approaching, and the market expected the US to cut interest rates for the first time in recent times. The plummeting USD also supported the strong rise of gold prices.