Today the market is expecting PPI (MoM) and Initial Jobless Claims. Producer Price Index is expected to be lower than last period 0.1% instead of 0.4%, but it all depends on the actual data. Mind you, yesterday the market got a CPI of 3.3%, versus the expected 3.4%. But Powell did not say anything interesting in the change of views and still sticks to the hawkish side. Technically, gold is breaking local upside support and forming a consolidation below 2325. If the data is bullish for the dollar, gold could continue to fall towards 2290-2265.
Resistance levels: 2325, 2340
Support levels: 2305, 2291
Resistance levels: 2325, 2340
Support levels: 2305, 2291
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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.