Gold – A Bounce Off the Lows, But Tomorrow's Inflation Data Decides

Gold bounced sharply from yesterday's $4,270 low as Middle East tensions resurfaced and short-sellers locked in profits. But the move looks fragile heading into Wednesday's CPI report. With rate-hike expectations jumping to 70%, everything hinges on the inflation number. Will gold extend its recovery — or resume the slide?
Born2trade | 149 hari yang lalu

Gold is trading around $4,340 today. Yesterday, it slipped to roughly $4,270 before buyers stepped back in and pushed it higher. The recent slide has paused, at least for now.

Two factors are driving the bounce. Fresh fighting in the Middle East, including shelling on the Israel-Lebanon border, revived some safe-haven demand. And some traders who had bet on gold falling took profits ahead of tomorrow's big event.

That event is the US inflation report, known as CPI, out on Wednesday. It matters because last week's strong jobs data pushed the market to price a 70% chance of a Fed rate hike by December, up from 45% a week ago. Gold pays no interest, so higher rates work against it. A hot inflation number tomorrow would add to the pressure. A soft one could give gold more room to recover.

So today's bounce is real, but fragile. The inflation report sets the direction from here.

Gold key levels:

  • Resistance: $4,400, then $4,500
  • Support: $4,270, then $4,200

Watching: Wednesday's US inflation report (CPI), the Fed meeting on 16–17 June, and Middle East headlines.

By Born2trade market research department

Risk Disclaimer: All research and/or forecasts above reflect the author's personal opinion and cannot be treated as trading advice. Born2trade is not responsible for any trading results based on any information in this article. Trading Forex and CFDs carries a high level of risk to your capital. You may lose all of your invested funds. Forex and CFD trading may not be suitable for all investors. Please ensure that you fully understand the risks involved and, if necessary, seek independent advice.

 

Born2trade
Tipe: STP, ECN
Regulasi: FSC (Mauritius)
baca selengkapnya
🇺🇸 US Midterm Elections: Political Gridlock Raises Fiscal and Debt Risks

🇺🇸 US Midterm Elections: Political Gridlock Raises Fiscal and Debt Risks

Democratic control of Congress sets the stage for prolonged confrontation with the Trump administration over spending, taxation and the debt ceiling. With US debt approaching $40.5 trillion and fiscal deficits remaining substantial, political uncertainty could intensify, influencing dollar liquidity, Treasury markets and global investor sentiment.
Headway | 11 jam 1 menit yang lalu
 Dollar extends election-related slide, stocks rebound

Dollar extends election-related slide, stocks rebound

Dollar tumbles as expectations of fiscal stimulus and inflation ease - Strong October jobs data could still revive Fed tightening bets - Sterling awaits BoE’s vote, projections and policy guidance - Wall Street rallies amid reduced Fed hike bets and tumbling oil prices
XM Group | 16 jam 6 menit yang lalu
The euro has spread its wings

The euro has spread its wings

The euro is rising as oil and the dollar fall: eurozone inflation at 4% raises the odds of an ECB rate hike, while a cooling US economy gives the Fed a reason not to rush.
FxPro | 16 jam 26 menit yang lalu