Where next for gold? | Metals Mine

  • Where next for gold?

    From blog.hycmlab.com

    Last week saw gold taking another rally higher on further relief/confirmation that US inflation has peaked. The US CPI headline print was in line with the consensus of 6.5% and the core was too at 5.7%. These readings were also both down, lower from the prior, and the market continued to sell the USD after these prints even though they had been anticipated. The inflation component of the US Michigan report was a more mixed inflationary bag. The 1-year inflation expectations fell to 4% vs 4.4% expected. This was a reassuring print that the Fed’s rate hiking work was bearing fruit. However, the 5-year inflation ... (full story)

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Trader#F788
Jan 17, 2023 1:04pm
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I would be starting an argument if I said it has nothing to do with Fed as such or that it is standard trading now to find the initial value (or what is called the seed) before any move and in fact any move. So timing the move eventually is not a problem for us. Regardless, we cannot tell the future even by this new and powerful convention. So we read the now only and from what we read it is too early to say this or that way for Gold. Right now though we are in range working out the next major move.

The Crow (-_-)
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