Gold trade analysis
On Wednesday, U.S. CPI was higher than expected, and spot gold fell in the short term, with a minimum of 2,319.34 and a maximum of $2,359.98 per ounce.
Gold prices are currently at high levels, with the relative strength index sitting at overbought levels well above 70. In any case, there are certain risks in the current market.
The question now is whether gold prices will pull back significantly. In other words, whether the market will experience a period of sideways consolidation, the rise of gold is so strong that it is not suitable to short this market in the short term, and it is still mainly bullish.
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