Gold prices registered another drop after the announcement of the latest US CPI numbers.
A small reduction for Core CPI was interpreted as bearish by the markets and the gold price tumbled down with 1.1%. The high likelihood of continued rate hikes from the FED is also triggering downward pressure and
With the release of January’s inflation figures showing a slight reduction in Core CPI, price pressures remain elevated, renewing the potential for the Federal Reserve to continue to raise rates. Additionally, US retail sales have beaten estimates, supporting a stronger Dollar.
Where do you think gold is headed next? Let us know in the comments and subscribe to the Capital.com channel for more gold price analysis!
Chapters
00:00 Intro
00:18 Gold price news update – dollar, yields, economic outlook
08:35 Gold price support and resistance for February 2023
09:07 Gold price technical analysis for February 2023
12:28 Recap
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9 Comments
Clueless
❤ small and expected pullback before all time highs imo
Just tell me gold will go down or up
In further week
Nice analysis. Thank you
It was expected lately it went up too fast reconciliation was in order
Gov data cant be trusted they cook the numbers to deceive and hide the real truth food and rent are still at 10% or more
MMM… Massive, Market, Manipulation.
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Everything affects gold to the downside. Really bad old fashionable asset class. If you'd bought in 2011 you'd be holding the bag wondering why you ever touched this boring yellow metal.