Gold next week possibility
Recent PPI Data: If the PPI data was higher than expected, it suggests higher production costs which could eventually lead to higher consumer prices (inflation), potentially boosting gold.
CPI Data: If CPI shows increasing inflation, this would likely support gold prices.
Fed Statements: Any hints from the Federal Reserve about future interest rate hikes will be critical. A dovish stance may support gold, while a hawkish stance may pressure it.
The current price is around $2,411.58.
The overall trend appears to be bullish, with the price moving upwards and forming higher highs and higher lows.
If the price maintains above the $2,411 level, it is likely to test the resistance at $2,423.47.
A successful break above $2,423.47 could push the price towards $2,430 and potentially higher.
Strong buying interest and continued positive sentiment could drive the price further up.
CPI Data: If CPI shows increasing inflation, this would likely support gold prices.
Fed Statements: Any hints from the Federal Reserve about future interest rate hikes will be critical. A dovish stance may support gold, while a hawkish stance may pressure it.
The current price is around $2,411.58.
The overall trend appears to be bullish, with the price moving upwards and forming higher highs and higher lows.
If the price maintains above the $2,411 level, it is likely to test the resistance at $2,423.47.
A successful break above $2,423.47 could push the price towards $2,430 and potentially higher.
Strong buying interest and continued positive sentiment could drive the price further up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.