Gold price adjusted strongly!
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Hello dear friends, let's find out about the price of gold today!
As predicted since yesterday, gold has experienced strong downward pressure after the release of the Consumer Price Index (CPI) of the United States. According to the CPI report, it increased by 3.2% compared to the same period last year in February, slightly higher than the predicted 3.1% by market participants. The core index, which excludes volatile food and energy prices, came in at 3.8%, higher than the expected 3.7%, although lower than the 3.9% announced in January.
These data have helped the USD recover and suppress the upward momentum of this precious metal. Currently, gold is trading around $2159 and is still undergoing a corrective phase after reaching record highs.
In the short and medium term, gold is forming a cup and handle pattern and will soon face downward pressure after aiming for the resistance level of $2165. We can consider selling if gold reaches that level, with a profit target at the support level of $2145 - $2143.
As predicted since yesterday, gold has experienced strong downward pressure after the release of the Consumer Price Index (CPI) of the United States. According to the CPI report, it increased by 3.2% compared to the same period last year in February, slightly higher than the predicted 3.1% by market participants. The core index, which excludes volatile food and energy prices, came in at 3.8%, higher than the expected 3.7%, although lower than the 3.9% announced in January.
These data have helped the USD recover and suppress the upward momentum of this precious metal. Currently, gold is trading around $2159 and is still undergoing a corrective phase after reaching record highs.
In the short and medium term, gold is forming a cup and handle pattern and will soon face downward pressure after aiming for the resistance level of $2165. We can consider selling if gold reaches that level, with a profit target at the support level of $2145 - $2143.
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