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Gold Spot / U.S. Dollar
Short

XAUUSD GO SHORT

By Anthony-Ryan
Updated
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High oil prices have pushed the CPI data back up, and the Federal Reserve may raise interest rates again. CPI data has been trading in a range since its release. Although it continues to test upwards, gold's transaction volume exceeding US$1.1 billion in 2 minutes will test whether gold can hold on to 1904 and 1900.

Based on current market analysis, gold continues to weaken.

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Note
After the CPI was announced, the market went back down from the highs and still did not break through the 1915 watershed, so the market was still weak.
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Note
Once gold breaks below the support level of 1900, gold will gradually fall below 1895-1890.
Note
Gold had some ups and downs after the CPI data was released. Although the CPI data rose, the U.S. dollar index and 10-year government bond yields weakened, and the Federal Reserve may pause to raise interest rates.
However, today the European Central Bank decided to raise interest rates by 25 basis points. The prospects for this time's interest rate hike are not good, and more investors are worried that the euro's economic growth has shown signs of weakness.
The United States released data today showing that the retail sales rate in August was 0.6%, much higher than the expected 0.2%, and the number of unemployment benefits of 220,000 was lower than the expected 225,000. Gold fell 6 points to 1901.07 following the release of these data. A brief rebound sets the market direction.
According to the overall market data analysis, gold will still be shorted. At present, it depends on whether gold can fall below the 1900 support level. Once the support level moves downward, gold will fall to 1890-1895.
Supply and DemandSupport and ResistanceTrend Analysisxauusdanalysisxauusdshortxauusdupdates
Anthony-Ryan
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