XAUUSD - Gold trading strategy after PPI news on 14/7
Updated
The world gold price continued to increase with spot gold increasing by 3.5 USD to 1,960 USD/ounce. Gold futures in August last traded at $1,963.8 per ounce, up $1.80 from dawn the day before.
Gold bounced back and held on to 3-week highs as another development time report released suggests the US Federal Reserve (Fed) may be nearing the end of its most aggressive rate hike cycle yet. in his 40 years. This is considered an optimistic signal for the commodity market, including precious metals.
The US producer price index (PPI) in June was slightly lower than economists' forecasts. According to US Department of Labor data, PPI rose 0.1% last month. This is slightly below the consensus forecast of 0.2% of economists. Meanwhile, the core PPI (ignoring volatile real wages and energy prices) in June was also below economists' consensus forecasts.
Previously, the consumer price index (CPI) proved to be the lowest gain since March 2021 when it increased 3.0% year-on-year, lower than the expected increase of 3.0% year-on-year. 3.1% and compared to the 4.0% increase reported in the May report.
New data shows that the war against escalating prices is being won. That means pressure on future Fed rate hikes should ease. This is a win-win scenario for and
XAUUSD BUY 1955 - 1957💯💯
✅ TP1: 1962
✅ TP2: 1968
✅ TP3: 1972
🛑 SL: 1948
Gold bounced back and held on to 3-week highs as another development time report released suggests the US Federal Reserve (Fed) may be nearing the end of its most aggressive rate hike cycle yet. in his 40 years. This is considered an optimistic signal for the commodity market, including precious metals.
The US producer price index (PPI) in June was slightly lower than economists' forecasts. According to US Department of Labor data, PPI rose 0.1% last month. This is slightly below the consensus forecast of 0.2% of economists. Meanwhile, the core PPI (ignoring volatile real wages and energy prices) in June was also below economists' consensus forecasts.
Previously, the consumer price index (CPI) proved to be the lowest gain since March 2021 when it increased 3.0% year-on-year, lower than the expected increase of 3.0% year-on-year. 3.1% and compared to the 4.0% increase reported in the May report.
New data shows that the war against escalating prices is being won. That means pressure on future Fed rate hikes should ease. This is a win-win scenario for and
XAUUSD BUY 1955 - 1957💯💯
✅ TP1: 1962
✅ TP2: 1968
✅ TP3: 1972
🛑 SL: 1948
Note
to the entry BuyNote
Running +20Pips ✅
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