Gold technical analysis, gold trading strategy august 11

Increase in world gold price. With the current value, the world gold price converted to VND (HM:VND) (tax and processing fee included) the difference between the domestic price of SJC gold is about more than 11 million VND/tael.

According to the US Department of Labor, the consumer price index in July increased by 0.2%, in line with the forecast of experts.

Over the past 12 months, usage increased by 3.2%. The annual inflation index was 3.3% lower than economists' forecasts.

The gold market did not react strongly to the usage data just released. December gold futures traded at $1,962 per ounce, up 0.58% on the day.

According to CME's FedWatch, the market currently puts the Federal Reserve (Fed) with only a 13.5% chance of raising interest rates by 0.25 percentage points at its meeting in September 2023.

Last night, the US announced that the consumer price index (CPI) in July-2023 increased by 3.2% from a year earlier, 0.1 percentage point lower than the forecast of 3.3% increase. At the same time, annual core usage in the US dropped from 4.8% to 4.7%.

.XAUUSD BUY 1909-1913💯💯

✅ TP1:1927
✅ TP2: 1929

SL: 1902