After increasing for 3 days, XAU has decreased
Gold stabilized below its one-week high in mid-week trading. Gold was under pressure this morning as the U.S. dollar index rose 0.4% and 10-year Treasury yields recovered on new reports that retail sales rose significantly in September. Meanwhile, rising expectations that the US Federal Reserve has ended its monetary tightening cycle are weighing on gold prices.
Gold bullion rose nearly 1% in premarket trading after data showed U.S. consumer prices were flat in October. U.S. producer prices fell by the most in three and a half years in October. Recent signs suggest that inflationary pressures are easing. "CPI and PPI statistics are very positive and continue to support gold prices on expectations that inflation will continue to decline, with the Fed's interest rate hikes complete," said David Meagher, Director of Metals Trading at Highridge Futures. There are growing expectations that this will happen." ”
Gold bullion rose nearly 1% in premarket trading after data showed U.S. consumer prices were flat in October. U.S. producer prices fell by the most in three and a half years in October. Recent signs suggest that inflationary pressures are easing. "CPI and PPI statistics are very positive and continue to support gold prices on expectations that inflation will continue to decline, with the Fed's interest rate hikes complete," said David Meagher, Director of Metals Trading at Highridge Futures. There are growing expectations that this will happen." ”
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TP1: 1945
TP2: 1930
SL:1975