Hello trader, here are some information that predict gold will continue to fall to 190x
The data presented indicates an increase in appetite for risk. According to the US Bureau of Labor Statistics (BLS), inflation rose by 0.2% MoM in July, meeting market expectations, while registering a 3.2% increase compared to the previous year, slightly lower than the anticipated 3.3%, although higher than the previous 3%. Additionally, the annual core index printed at 4.7%, down from June's rate of 4.8%. These figures have prompted speculation regarding a potential long-term pause in monetary tightening by the Federal Reserve, causing the US Dollar to weaken against most major counterparts.
The data presented indicates an increase in appetite for risk. According to the US Bureau of Labor Statistics (BLS), inflation rose by 0.2% MoM in July, meeting market expectations, while registering a 3.2% increase compared to the previous year, slightly lower than the anticipated 3.3%, although higher than the previous 3%. Additionally, the annual core index printed at 4.7%, down from June's rate of 4.8%. These figures have prompted speculation regarding a potential long-term pause in monetary tightening by the Federal Reserve, causing the US Dollar to weaken against most major counterparts.
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The price of gold (XAU/USD) is currently experiencing a temporary decline following a sharp sell-off due to investors' hope that the modest increase in the Consumer Price Index (CPI) of the United States in July would not be enough to compel the Federal Reserve (Fed) to further raise interest rates in September. The precious metal is attempting to recover, but there is no guarantee of price appreciation as investors are concerned about persistent inflation amid rising rental prices.
