GOLD recovers to original target, paying attention to US CPI

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XAUUSD recovered strongly and is currently traded quite narrowly. US PPI data has reinforced investor confidence in the Federal Reserve to cut interest rates further this year. In addition, Trump's report on tariffs also affected the USD, helping push gold prices higher. On Wednesday, investors are focused on the US CPI, which is expected to cause a big swing in the markets.

US PPI data and Trump's tariff report influence the USD
US PPI unexpectedly came in lower than expected in December, driven by lower food costs and firm service prices, which may help ease concerns about persistent price pressure.

Data released by the U.S. Bureau of Labor Statistics on Tuesday showed that the U.S. PPI rose 3.3% year-on-year in December, an increase less than the 3.5% expected. Core PPI, which excludes food and energy, rose 3.5% year-on-year, below expectations of 3.8%.

US PPI increased 0.2% month-on-month in December, lower than the 0.4% increase in November and below market expectations of 0.4%. Core PPI, which excludes food and energy, was unchanged from the previous month, missing economists' expectations of a 0.3% increase and the previous month's 0.2% increase.
After the US PPI data was released, the US Dollar fell again. A weaker US Dollar makes gold more attractive.

Bloomberg reports that members of US President-elect Donald Trump's incoming economic team are discussing gradually increasing taxes month by month to increase their negotiating leverage incrementally, while also helping to avoid rising inflation. mutation.
One idea is to build a progressive tax schedule with monthly increases of about 2% to 5%, said people familiar with the matter. The plan would also need to rely on executive powers granted by the International Emergency Economic Powers Act. This news also affected the US Dollar, causing gold prices to recover.

Pay attention to US CPI
Investors are now waiting for the US Consumer Price Index (CPI) released on Wednesday to analyze the Fed's policy direction.
The US CPI is expected to increase at an annual rate of 2.9% in December, higher than the previous month's 2.7% increase, while the month-on-month CPI increase in the month 12 is expected to be 0.3%. .
If Wednesday's US CPI report is lower than expected, it could increase the likelihood that the Federal Reserve will ease policy this year, which would benefit gold. And of course the opposite effect is if the data is higher than expected.
Gold is considered a hedge against inflation, but due to its non-interest-bearing nature, a high interest rate environment weakens its investment appeal.

Analysis of technical prospects for XAUUSD
On the daily chart, gold is still trading very narrowly but as mentioned to readers in previous publications that gold has achieved the initial technical conditions for a possible price increase.

With the short-term trend formed by the green price channel and support from EMA21, POC Volume Profile.
After the previous correction, gold has also recovered from the 0.50% Fibonacci retracement level to reach the initial target at 2,676 USD, the next target will be around 2,693 - 2,700 USD. Meanwhile, the Relative Strength Index maintained above 50 is a positive signal for an uptrend in the near future while still quite far from the overbought area.

During the day, the technical outlook for gold is bullish, notable points will also be listed as follows.
Support: 2,664 – 2,650USD
Resistance: 2,676 – 2,693 – 2,700USD

SELL XAUUSD PRICE 2701 - 2699⚡️
↠↠ Stoploss 2705

→Take Profit 1 2694
↨
→Take Profit 2 2689

BUY XAUUSD PRICE 2649 - 2651⚡️
↠↠ Stoploss 2645

→Take Profit 1 2656
↨
→Take Profit 2 2661

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Nota

Spot gold reached 2,680 USD/ounce, up 0.11% on the day.

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Trade ativo

Plan SELL +60pips🔽🔽🔽

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Nota

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Nota

Spot gold fell below 2,690 USD/ounce, down 0.23% on the day.

há 18 horas

Nota

▫️ Spot Gold lost $2,710 per ounce, down 0.16% on the day.

há 10 horas

Nota

The dollar weakened further as Retail Sales and Initial Jobless Claims in December signaled a slowdown in post-CPI deflation.