Gold Price Forecast: XAUUSD to suffer a sell-of on weak US CPI data Gold XAUUSD CPI UnitedStates
“Monthly US CPI is seen rising to 0.6% while the annualized inflation rate is seen softening to 8.0%. The Core CPIs are likely to ease across the time horizon, suggesting signs of peak inflation. The US Dollar could come under additional selling pressure on a softer print, as it would mean that the US Federal Reserve could opt for a smaller rate hike in December.”
“On the downside, the $1,700 mark could offer strong support, below which a sharp drop toward the 50DMA at $1,674 cannot be ruled out. Ahead of that, the previous week’s high at $1,683 could come to the rescue of bulls.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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