GOLD (To 2369$) Fed's Inflation Measure Up 0.2% in April
Fed’s Preferred Inflation Measure Rises 0.2% in April, as Expected
According to a closely watched measure released Friday by the Federal Reserve, inflation rose as expected in April, with markets anxious about when interest rates might begin to decline.
The personal consumption expenditures (PCE) price index, excluding food and energy costs, increased by 0.2% for the period, matching the Dow Jones estimate.
On an annual basis, core PCE rose by 2.8%, 0.1 percentage points higher than the estimate.
Including the volatile food and energy categories, PCE inflation was 2.7% annually and 0.3% from the previous month. These figures were also in line with forecasts.
Technical Analysis of Gold
The price has stabilized in the bullish zone, particularly after the PCE result came in at 0.2%.
The first bullish targets are 2364 and 2369. After reaching these levels, the price is expected to move between 2369 and 2354 until a breakout occurs.
Volatility is expected to remain high until the market closes.
According to a closely watched measure released Friday by the Federal Reserve, inflation rose as expected in April, with markets anxious about when interest rates might begin to decline.
The personal consumption expenditures (PCE) price index, excluding food and energy costs, increased by 0.2% for the period, matching the Dow Jones estimate.
On an annual basis, core PCE rose by 2.8%, 0.1 percentage points higher than the estimate.
Including the volatile food and energy categories, PCE inflation was 2.7% annually and 0.3% from the previous month. These figures were also in line with forecasts.
Technical Analysis of Gold
The price has stabilized in the bullish zone, particularly after the PCE result came in at 0.2%.
The first bullish targets are 2364 and 2369. After reaching these levels, the price is expected to move between 2369 and 2354 until a breakout occurs.
Volatility is expected to remain high until the market closes.
- Pivot Price: 2347
- Resistance Levels: 2369, 2388, 2397
- Support Levels: 2327, 2318, 2304
Today's anticipated trading range is between the support level at 2335 and the resistance level at 2397
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