GOLD
The USD Core Retail Sales m/m came in slightly below expectations at 0.4% vs 0.5%, while Retail Sales m/m also missed the mark at 0.4% vs 0.6%. However, Unemployment Claims were higher than expected at 217K vs 210K. This mixed data may have contributed to a slight decrease in USD strength, creating a buying opportunity for gold investors and driving prices up to $2724.5.
The Core Retail Sales data is a key indicator of consumer spending, which accounts for a significant portion of the US economy. A slower-than-expected growth in retail sales may indicate a decline in economic activity, potentially weakening the USD
In this context, the gold price increase can be seen as a hedge against potential economic uncertainty and inflation concerns. Investors may be seeking safe-haven assets like gold, driving prices higher.
be careful with 2710-2711 demand floor ,it was a supply roof now a demand floor.it can reverse price and that will take your sell profit.
break even on 2724-2725 now and wait for higher sell in the zone 2748-2746 tomorrow newyork time .
The Core Retail Sales data is a key indicator of consumer spending, which accounts for a significant portion of the US economy. A slower-than-expected growth in retail sales may indicate a decline in economic activity, potentially weakening the USD
In this context, the gold price increase can be seen as a hedge against potential economic uncertainty and inflation concerns. Investors may be seeking safe-haven assets like gold, driving prices higher.
be careful with 2710-2711 demand floor ,it was a supply roof now a demand floor.it can reverse price and that will take your sell profit.
break even on 2724-2725 now and wait for higher sell in the zone 2748-2746 tomorrow newyork time .
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