Gold Back at Support - Inflation Hedge?
Gold has broken back down since the sharp rally on US inflation 2 weeks ago. Key resistance now is $1800-$1810
A combination of strong USD and news FED Chairm Powell would remain hurt gold alot in the last few days but we are stabilizing at key supports.
Now we are back under $1800 there is some value here especially as tonight we get US GDP with the Core PCE data which is an inflation number the FED watches closely. We will find out just how much an inflation hedge gold really is today.
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easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration
A combination of strong USD and news FED Chairm Powell would remain hurt gold alot in the last few days but we are stabilizing at key supports.
Now we are back under $1800 there is some value here especially as tonight we get US GDP with the Core PCE data which is an inflation number the FED watches closely. We will find out just how much an inflation hedge gold really is today.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration
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