🔥 XAUUSD : CPI is Coming ! Bull or Bear ?
Updated
By checking the price of gold in the daily time frame, we can see that the price started to correct more ,as we expected and was able to fall to $1976! If the price stabilizes below the level of $1990, we can expect more fall from gold! In addition, today we will have the important statistics of the CPI, and if this statistic is announced more than the forecast, it will cause the fall of gold, and if it is announced equal to or less than the forecasted rate, it will increase the price of gold! Today the market will experience high fluctuations!
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Best Regards , Arman Shaban
Please share your opinion about the possible trend of this chart with me and support us with your likes and comments.
Best Regards , Arman Shaban
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Note
What Happend with CPI announcement ? Let's Review it first ! • The CPI increased 0.1 percent in November, after being unchanged in October.
• The shelter index rose, while the gasoline index fell. The food index increased slightly.
• The index for all items less food and energy rose 0.3 percent in November, with rent, medical care, and motor vehicle insurance among the rising indexes.
• The CPI rose 3.1 percent over the last 12 months, with the index for all items less food and energy rising 4.0 percent, the energy index decreasing 5.4 percent, and the food index increasing 2.9 percent.
As I said, with the stabilization of the price below $1990, we will see more gold fall! After the announcement of the CPI statistics, the first price grew up to $1997, it faced a heavy fall again and is currently trading in the range of $1983! We will probably soon see the price drop to lower targets such as $1966 and $1939!
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