XAUUSD - Precious metals leveled off after soaring
Updated
After many consecutive days of rising, the price of gold today, October 13, of the world has decreased as data broadcast in the US cooled, the USD and US interest bonds heated up.
Overnight, the US announced that the annual consumer price index (CPI) increased by 3.7%, higher than the forecast of 3.6%. However, the annual core CPI excluding real product and energy prices decreased from 4.3% to 4.1%, meeting market expectations.
At the same time, the US also announced the number of initial unemployment support applications of 209,000 applications, better than the forecast of 210,000 applications.
Analysts say that utilization in the US is decreasing and the improving job market will push the US Federal Reserve (FED) to raise interest rates in November 2023 and maintain high interest rates for a longer period of time. .
The value of the USD has skyrocketed after the above information. The 10-year US bond core increased by 4.65%, the 2-year bond increased by 5.07%.
Under pressure from the USD and US bonds, gold prices may decrease after being able to control 1,885 USD/ounce. So they took the opportunity to sell it and make a profit. As a result, today's world gold price decreased by 15 USD to 1,870 USD/ounce at 6:00 a.m. on October 13.
Overnight, the US announced that the annual consumer price index (CPI) increased by 3.7%, higher than the forecast of 3.6%. However, the annual core CPI excluding real product and energy prices decreased from 4.3% to 4.1%, meeting market expectations.
At the same time, the US also announced the number of initial unemployment support applications of 209,000 applications, better than the forecast of 210,000 applications.
Analysts say that utilization in the US is decreasing and the improving job market will push the US Federal Reserve (FED) to raise interest rates in November 2023 and maintain high interest rates for a longer period of time. .
The value of the USD has skyrocketed after the above information. The 10-year US bond core increased by 4.65%, the 2-year bond increased by 5.07%.
Under pressure from the USD and US bonds, gold prices may decrease after being able to control 1,885 USD/ounce. So they took the opportunity to sell it and make a profit. As a result, today's world gold price decreased by 15 USD to 1,870 USD/ounce at 6:00 a.m. on October 13.
Note
XAUUSD SELL 1878- 1880✔️TP1: 1872
✔️TP2: 1865
❌SL: 1888
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