◉ Fundamental Rationale
● Gold prices remain steady despite a strong US dollar, supported by a softer-than-expected US CPI report.
● The US CPI report showed a 0.4% rise, lower than the forecasted 0.5%, easing inflation concerns.
● Weaker US inflation data reduces the likelihood of a rate hike, making gold more attractive to investors.
● The strong US dollar, fueled by a surge in US Treasury yields, failed to dent gold's appeal.
● Prices are expected to remain supported as investors seek safe-haven assets amid economic uncertainty.
◉ Technical Observations
● Gold prices have broken free from a Symmetrical Triangle pattern and surged upward.
● Currently trading near all-time highs, the rally is expected to continue, propelling prices beyond the previous high.
● Gold prices remain steady despite a strong US dollar, supported by a softer-than-expected US CPI report.
● The US CPI report showed a 0.4% rise, lower than the forecasted 0.5%, easing inflation concerns.
● Weaker US inflation data reduces the likelihood of a rate hike, making gold more attractive to investors.
● The strong US dollar, fueled by a surge in US Treasury yields, failed to dent gold's appeal.
● Prices are expected to remain supported as investors seek safe-haven assets amid economic uncertainty.
◉ Technical Observations
● Gold prices have broken free from a Symmetrical Triangle pattern and surged upward.
● Currently trading near all-time highs, the rally is expected to continue, propelling prices beyond the previous high.
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🌐 naranjcapital.com
🎖️ CMT (usa) & CFTe (usa) chartered
🇺🇸 Telegram - USA Stocks Trading Advice
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🎖️ CMT (usa) & CFTe (usa) chartered
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Related publications
Disclaimer
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