Emas / Dollar A.S.Penjualan
Today's Gold Price Update: A Continued Downtrend
Diupdate
Gold prices today continue to face downward pressure, currently trading around $2314, losing 0.45% for the day with a drop of over 100 pips during the early Asian trading session.
Despite a strong rally last night that pushed gold close to $2350, the precious metal couldn't maintain its recovery. This was despite the U.S. Dollar weakening after the U.S. released its economic data.
The USD took a hit after the U.S. Consumer Price Index (CPI) for May showed a faster cooling than economists had anticipated. The CPI remained flat after a 0.3% increase in April, while the forecast was only for a 0.1% rise.
Gold Price Forecast:
News Perspective: The Federal Reserve is expected to implement two rate cuts this year, with an 80% chance that the first cut will happen in September. This scenario typically leads to a weaker USD, which could benefit gold prices.
Psychological and Technical Perspective: From a technical standpoint, gold remains in a downward channel. In the short to medium term, the market sentiment still favors selling gold. The EMA and trendline indicators continue to support the bearish outlook for gold.
Key Points:
Current Price: $2314, down 0.45% for the day.
Support and Resistance: Unable to sustain gains around $2350.
Economic Data Impact: USD weakened after lower-than-expected CPI data.
Fed Rate Cuts: Expected to cut rates twice this year, with the first likely in September.
Technical Indicators: EMA and trendline favor continued bearish movement.
Stay tuned and watch for how these factors play out in the coming days. What’s your take on the current gold trend?
Despite a strong rally last night that pushed gold close to $2350, the precious metal couldn't maintain its recovery. This was despite the U.S. Dollar weakening after the U.S. released its economic data.
The USD took a hit after the U.S. Consumer Price Index (CPI) for May showed a faster cooling than economists had anticipated. The CPI remained flat after a 0.3% increase in April, while the forecast was only for a 0.1% rise.
Gold Price Forecast:
News Perspective: The Federal Reserve is expected to implement two rate cuts this year, with an 80% chance that the first cut will happen in September. This scenario typically leads to a weaker USD, which could benefit gold prices.
Psychological and Technical Perspective: From a technical standpoint, gold remains in a downward channel. In the short to medium term, the market sentiment still favors selling gold. The EMA and trendline indicators continue to support the bearish outlook for gold.
Key Points:
Current Price: $2314, down 0.45% for the day.
Support and Resistance: Unable to sustain gains around $2350.
Economic Data Impact: USD weakened after lower-than-expected CPI data.
Fed Rate Cuts: Expected to cut rates twice this year, with the first likely in September.
Technical Indicators: EMA and trendline favor continued bearish movement.
Stay tuned and watch for how these factors play out in the coming days. What’s your take on the current gold trend?
Trade aktif
Trade aktif
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.