#XAUUSD @ 1722.97 Gold Price Forecast: to rebound on soft US inflation report
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
Last week, gold failed to make a convincing move in either direction. August inflation data from the US next week could have a significant impact on gold’s valuation, FXStreet’s Eren Sengezer reports.
“The US Bureau of Labor Statistics will release the Consumer Price Index (CPI) data for August on Tuesday. FOMC policymakers refrained from confirming a 75 bps rate hike in September and a soft inflation report could cause the probability of a 50 bps rate increase to rise. In that scenario, US T-bond yields are likely to fall sharply and trigger a decisive rally in gold. On the flip side, stronger-than-expected CPI prints could cement a 75 bps rate hike and not allow XAU/USD to turn north.”
“On Friday, August Industrial Production and Retail Sales data from China will be looked upon for fresh impetus. If these figures disappoint, gold could have a hard time finding demand, with investors losing hope for a steady recovery in gold’s demand and vice versa.”
“The University of Michigan’s flash September Consumer Sentiment Index report will be released on Friday. A decline in 5-10 year consumer inflation expectations should hurt the dollar, while an unexpected increase could help the currency gather strength and weigh on XAU/USD.”
[/s2If]
Join Our Telegram Group
