Gold experienced a decline throughout the week, dropping from approximately 1947 to 1922 yesterday. This can be attributed to the anticipation surrounding the release of CPI data scheduled for next Thursday.
The market is cautious about potential policy tightening by the Federal Reserve, as their next interest rate decision will depend on incoming data. There is growing concern that recent economic indicators could disrupt the stability of markets. Although last week's job numbers were somewhat mixed, Fed officials later confirmed that they largely met expectations.
This implies that any plans for another rate hike by the Fed are currently on hold
The market is cautious about potential policy tightening by the Federal Reserve, as their next interest rate decision will depend on incoming data. There is growing concern that recent economic indicators could disrupt the stability of markets. Although last week's job numbers were somewhat mixed, Fed officials later confirmed that they largely met expectations.
This implies that any plans for another rate hike by the Fed are currently on hold
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GOLD close +50PIPs
🔹SL 1920
🔹TP 1940