Supported by data, GOLD skyrocketed with room to increase
ที่อัปเดต:
Due to weaker-than-expected US core inflation data, the US Dollar 
DXY weakened and the market also rekindled expectations that the Federal Reserve's interest rate cuts may not be over yet, gold prices increased sharply. Technical factors also continue the upward price structure.
US inflation is lower than expected
The U.S. Bureau of Labor Statistics reported on Wednesday that the U.S. consumer price index (CPI) rose 0.4% month-over-month in December, slightly above the 0.3% forecast. of economists. The overall CPI inflation rate increased by 2.9% over the same period last year, in line with expectations.
Core CPI inflation, which excludes food and energy, rose 3.2% year-on-year, slower than November data and below economists' median estimate of 3.3%. economic survey by Dow Jones.
Gold prices were supported and jumped by weaker-than-expected US core inflation data, causing US Treasury yields to fall sharply.
Core CPI was slightly lower than expected. This is a positive signal for gold because the corollary is that the Fed will not necessarily rule out cutting interest rates, although the possibility of cutting interest rates in January is not high, but some rate cuts Capacity is still expected before the end of the year.
Gold is considered a hedge against inflation, but because it earns no interest, its appeal to investors diminishes in higher interest rate environments and vice versa in low interest rate environments.
Focus on key US economic data
Today (Thursday), financial markets focus on US retail sales, data on initial jobless claims and speeches from Federal Reserve officials.
Economists expect U.S. retail sales to rise 0.6% month-over-month in December, down from 0.7% in November. Initial jobless claims are expected to rise from 201,000 to 210,000 in the week ending January 11.
Analysis of technical prospects for
XAUUSD
On the daily chart, after ending the technical correction and receiving support from the 0.50% Fibonacci retracement level that readers should pay attention to in previous publications, gold has continued to increase to continue. current bullish cycle.
With an active position above the 0.382% Fibonacci retracement level gold is likely to continue rising with a subsequent target at around $2,730 upon breaking the $2,700 base price.
In the short term, gold has achieved its target increase at 2,700 USD, however, the room for price increases is still quite wide ahead with the Relative Strength Index pointing up, operating above 50 and still at quite far from the overbought level.
During the day, the technical outlook for gold prices is still bullish with notable points listed as follows.
Support: 2,693 – 2,676USD
Resistance: 2,700 – 2,730USD
SELL XAUUSD PRICE 2721 - 2719⚡️
↠↠ Stoploss 2725
→Take Profit 1 2714
↨
→Take Profit 2 2709
BUY XAUUSD PRICE 2672 - 2674⚡️
↠↠ Stoploss 2668
→Take Profit 1 2679
↨
→Take Profit 2 2684
DXY weakened and the market also rekindled expectations that the Federal Reserve's interest rate cuts may not be over yet, gold prices increased sharply. Technical factors also continue the upward price structure.US inflation is lower than expected
The U.S. Bureau of Labor Statistics reported on Wednesday that the U.S. consumer price index (CPI) rose 0.4% month-over-month in December, slightly above the 0.3% forecast. of economists. The overall CPI inflation rate increased by 2.9% over the same period last year, in line with expectations.
Core CPI inflation, which excludes food and energy, rose 3.2% year-on-year, slower than November data and below economists' median estimate of 3.3%. economic survey by Dow Jones.
Gold prices were supported and jumped by weaker-than-expected US core inflation data, causing US Treasury yields to fall sharply.
Core CPI was slightly lower than expected. This is a positive signal for gold because the corollary is that the Fed will not necessarily rule out cutting interest rates, although the possibility of cutting interest rates in January is not high, but some rate cuts Capacity is still expected before the end of the year.
Gold is considered a hedge against inflation, but because it earns no interest, its appeal to investors diminishes in higher interest rate environments and vice versa in low interest rate environments.
Focus on key US economic data
Today (Thursday), financial markets focus on US retail sales, data on initial jobless claims and speeches from Federal Reserve officials.
Economists expect U.S. retail sales to rise 0.6% month-over-month in December, down from 0.7% in November. Initial jobless claims are expected to rise from 201,000 to 210,000 in the week ending January 11.
Analysis of technical prospects for
XAUUSD On the daily chart, after ending the technical correction and receiving support from the 0.50% Fibonacci retracement level that readers should pay attention to in previous publications, gold has continued to increase to continue. current bullish cycle.
With an active position above the 0.382% Fibonacci retracement level gold is likely to continue rising with a subsequent target at around $2,730 upon breaking the $2,700 base price.
In the short term, gold has achieved its target increase at 2,700 USD, however, the room for price increases is still quite wide ahead with the Relative Strength Index pointing up, operating above 50 and still at quite far from the overbought level.
During the day, the technical outlook for gold prices is still bullish with notable points listed as follows.
Support: 2,693 – 2,676USD
Resistance: 2,700 – 2,730USD
SELL XAUUSD PRICE 2721 - 2719⚡️
↠↠ Stoploss 2725
→Take Profit 1 2714
↨
→Take Profit 2 2709
BUY XAUUSD PRICE 2672 - 2674⚡️
↠↠ Stoploss 2668
→Take Profit 1 2679
↨
→Take Profit 2 2684
บันทึก
Spot gold fell below 2,690 USD/ounce, down 0.23% on the day.บันทึก
▫️ Spot Gold lost $2,710 per ounce, down 0.16% on the day.ปิดการเทรด: ถึงเป้าหมายการทำกำไร
PLAN SELL HIT TP1 +60pips.😵😵😵บันทึก
บันทึก
The dollar weakened further as Retail Sales and Initial Jobless Claims in December signaled a slowdown in post-CPI deflation.
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🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
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