XAUUSD : Gold prices hit a new record peak
Updated
Gold turned down after a galloping increase at the beginning of the week.
Gold has now adjusted back down after yesterday's increase to $2,353, the market awaits the upcoming US CPI report.
During the April 8 session, gold turned down after a galloping increase on Monday. The precious metal spiked to nearly $2,354, then corrected down to $2,318 and then recovered slightly and ended the day at $2,328.
Gold prices continuously touch record highs ahead of US inflation data on Wednesday, which is an important basis for determining the upcoming direction of interest rates.
Gold prices are currently reaching nearly 2,340 USD/oz at the beginning of today's Asian session, after closing the Monday session up 0.4%. According to forecasts of economists in a Bloomberg survey, the March CPI report will likely show signs of cooling inflation and this scenario will create conditions for the Fed to cut interest rates.
The economic calendar is devoid of any prominent economic events as the market awaits US CPI data tomorrow. Currently, gold is rising to $2,345.
Gold has now adjusted back down after yesterday's increase to $2,353, the market awaits the upcoming US CPI report.
During the April 8 session, gold turned down after a galloping increase on Monday. The precious metal spiked to nearly $2,354, then corrected down to $2,318 and then recovered slightly and ended the day at $2,328.
Gold prices continuously touch record highs ahead of US inflation data on Wednesday, which is an important basis for determining the upcoming direction of interest rates.
Gold prices are currently reaching nearly 2,340 USD/oz at the beginning of today's Asian session, after closing the Monday session up 0.4%. According to forecasts of economists in a Bloomberg survey, the March CPI report will likely show signs of cooling inflation and this scenario will create conditions for the Fed to cut interest rates.
The economic calendar is devoid of any prominent economic events as the market awaits US CPI data tomorrow. Currently, gold is rising to $2,345.
Note
Buy 2339 - 2341 TP1 : 2345
TP2 : 2350
TP3 : 2355
SL 2330
Note
Buy 2349 - 2351TP1 : 2360
TP2 : 2365
TP3 : 2370
SL 2340
Trade active
running 30 pipsNote
running 50 pipsNote
running 70 pipsNote
Hit Tp1 90 pipsTrade active
Hit 120 pipsNote
Hit TP2 140 pips
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