The market's focus is on the upcoming US Consumer Price Index (CPI) release, with expectations of a slight cooling in inflation rates
Gold traders are also paying attention to upcoming speeches from Federal Reserve officials.
Gold price encounters some buyers and rises some 0.30% on Monday, late in the New York session, amidst overall US Dollar (USD) weakness, sponsored by a drop in US Treasury bond yields. Therefore, XAU/USD is trading at $1944.95 after hitting a daily low of $1928.10
XAU/USD gains as market eyes upcoming US inflation data and geopolitical developments
A scarce economic docket in the United States (US), witnessed the majority of traders looking for the release of the Consumer Price Index (CPI) in the US. Before that, a poll from the New York Fed showed that inflation expectations for one year are cooling, while prices in October are expected to drop from 3.7% to 3.3% YoY, revealed forecasts. Core CPI is estimated to lie at 4.1%, unchanged to previously recorded data.
XAUUSD BUY ZONE 1945/1944
TAKE PROFIT 1950
TAKE PROFIT 1955
TAKE PROFIT 1960
STOP LOSS 1936
Gold traders are also paying attention to upcoming speeches from Federal Reserve officials.
Gold price encounters some buyers and rises some 0.30% on Monday, late in the New York session, amidst overall US Dollar (USD) weakness, sponsored by a drop in US Treasury bond yields. Therefore, XAU/USD is trading at $1944.95 after hitting a daily low of $1928.10
XAU/USD gains as market eyes upcoming US inflation data and geopolitical developments
A scarce economic docket in the United States (US), witnessed the majority of traders looking for the release of the Consumer Price Index (CPI) in the US. Before that, a poll from the New York Fed showed that inflation expectations for one year are cooling, while prices in October are expected to drop from 3.7% to 3.3% YoY, revealed forecasts. Core CPI is estimated to lie at 4.1%, unchanged to previously recorded data.
XAUUSD BUY ZONE 1945/1944
TAKE PROFIT 1950
TAKE PROFIT 1955
TAKE PROFIT 1960
STOP LOSS 1936
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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.