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Gold Price Prediction - Prices Trade Sideways Despite Soft US Inflation Data

From fxempire.com

Gold prices moved sideways, as the Euro moved lower and US yields pulled back. The UK reported stronger than expected GDP data, as the US revealed in line inflation information. Most of the decline in the US CPI was driven by gasoline prices which will likely rebound along with the rally in crude oil in January. Gold prices are trading sideways and consolidating, waiting for the dollar to make its next move. Commentary from Fed Chair Powell on Thursday shows that the Fed is likely on hold for the time being. The markets have taken the 25-basis point hike out of the market and the 2-year yield is currently printing at ... (full story)

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  • Category: Technical Analysis