Where will the price of gold in the week US CPI? A strong CPI could halt the rise in gold prices, hinting that the Fed may delay a rate cut scheduled for next week. A weaker CPI indicates that we are continuing towards the target of 2.00% and this would mean that the Fed continues to cut interest rates and dovish policy. A break below $2900 would push the price to the $2850-$2860 support zone, while a break above $2930 would push the price up to the previous resistance zone of $2955-2960.
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gold broke the support zone and formed a new low
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Disclaimer
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.