GOLD - Gold trading strategy on November 16
Updated
World gold prices increased today (November 16), but conflicting US inflation data is increasing volatility and risk for precious metal investors.
Traders' and investors' attitudes were more optimistic midweek following reports that the US consumer price index for October increased 3.2% year-on-year. CPI is forecast to increase 3.3% year-on-year, compared to a 3.7% increase in the September report. October PPI fell 0.5% from September compared to expectations of a 0.0% increase. 1% during this period. CPI and PPI data met the expectations of those who wanted to see the Federal Reserve pause its interest rate tightening cycle. Now, many Fed market observers believe that the US central bank will continue to pause interest rate increases in the coming months.
US stock indexes were higher and at multi-week highs in midday trading, following sharp gains posted on Tuesday.
Traders' and investors' attitudes were more optimistic midweek following reports that the US consumer price index for October increased 3.2% year-on-year. CPI is forecast to increase 3.3% year-on-year, compared to a 3.7% increase in the September report. October PPI fell 0.5% from September compared to expectations of a 0.0% increase. 1% during this period. CPI and PPI data met the expectations of those who wanted to see the Federal Reserve pause its interest rate tightening cycle. Now, many Fed market observers believe that the US central bank will continue to pause interest rate increases in the coming months.
US stock indexes were higher and at multi-week highs in midday trading, following sharp gains posted on Tuesday.
Note
💵SELL XAUUSD 1961-1963💵✔️TP1: 1954
✔️TP2:1945
❌SL: 1970
PREMIUM CHANNEL ✉️
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t.me/xauusdtradingfx
🔴9-12 signals per day
🔴Free knowledge support
🔴24/7 support for newbies.
🔴You always have priority.
t.me/xauusdtradingfx
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