Market stabilizes ahead of today's CPI data
Atualizado
💥GOLD information
World gold prices increased with spot gold increasing by 21.9 USD to 2,357.6 USD/ounce. Gold futures last traded at 2,363.6 USD/ounce, up 21.1 USD compared to yesterday morning.
Weakness in the USD and Treasury yields following US producer price data for April provided a boost to the yellow metal. The dollar fell 0.2% after US data made gold cheaper for buyers holding other currencies. Yields on the benchmark 10-year Treasury note also fell, reducing the opportunity cost of holding this non-couponing asset.
The US producer price index (PPI) in April increased by 0.5% over the previous month, a stronger increase than the forecast of 0.3%. Core PPI (excluding volatile food and energy) also rose 0.5% in April versus forecasts of 0.2%. However, March PPI was revised down to -0.1% from a 0.2% increase in the initial report. Although the April PPI report supported those who expected the US Federal Reserve (Fed) to delay interest rate cuts, the sharp downward revision to the March PPI clearly tempered the increase slightly. larger than expected in April PPI.
💥GOLD PLAN 05/15
Support: 2350 - 2342 - 2330 - 2324 - 2316- 2306
Resistance: 2362 - 2372 - 2378 - 2390 - 2400 - 2408
Breakout: Sell 2336 - 2362
SELL price range 2390 - 2392 stop 2396
SELL price range 2376 - 2378 stop 2382
BUY price range 2346 - 2348 stop 2342
BUY price range 2324 - 2322 stop 2318
World gold prices increased with spot gold increasing by 21.9 USD to 2,357.6 USD/ounce. Gold futures last traded at 2,363.6 USD/ounce, up 21.1 USD compared to yesterday morning.
Weakness in the USD and Treasury yields following US producer price data for April provided a boost to the yellow metal. The dollar fell 0.2% after US data made gold cheaper for buyers holding other currencies. Yields on the benchmark 10-year Treasury note also fell, reducing the opportunity cost of holding this non-couponing asset.
The US producer price index (PPI) in April increased by 0.5% over the previous month, a stronger increase than the forecast of 0.3%. Core PPI (excluding volatile food and energy) also rose 0.5% in April versus forecasts of 0.2%. However, March PPI was revised down to -0.1% from a 0.2% increase in the initial report. Although the April PPI report supported those who expected the US Federal Reserve (Fed) to delay interest rate cuts, the sharp downward revision to the March PPI clearly tempered the increase slightly. larger than expected in April PPI.
💥GOLD PLAN 05/15
Support: 2350 - 2342 - 2330 - 2324 - 2316- 2306
Resistance: 2362 - 2372 - 2378 - 2390 - 2400 - 2408
Breakout: Sell 2336 - 2362
SELL price range 2390 - 2392 stop 2396
SELL price range 2376 - 2378 stop 2382
BUY price range 2346 - 2348 stop 2342
BUY price range 2324 - 2322 stop 2318
Nota
Gold climbs above $2,370 as US yields edge lower ahead of inflation dataGold extends its uptrend and trades above $2,370 in the European session on Wednesday after gaining nearly 1% on Tuesday. The benchmark 10-year US Treasury bond yield stays in the red below 4.5% ahead of US inflation data, helping XAU/USD keep its footing.
Nota
exact trendAs I analyzed yesterday, gold has reached the 2400 area
Nota
GOLD is retest trendline to forming uptrendNota
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