GOLD - creating a bearish momentum after CPI

Spot Gold trades at daily lows near a daily low of $1,942, as optimism reigns following softer-than-anticipated US inflation figures. The Bureau of Labor Statistics reported the CPI rose by 0.1% MoM in May and 4% from a year earlier, while the core annual CPI printed at 5.3% as expected, easing from the previous 5.5%.

Gold is bearish according to the 4-hour chart, as it is currently developing below all of its moving averages

Kommentera:

Gold market interest today is updated economic forecasts, dot charts and Fed Chairman Jerome Powell's press conference.