Yesterday’s U.S. Producer Price Index (PPI) report showed lower-than-expected results, including the core index. As a result, U.S. long-term interest rates rose to 4.82%. Although gold faced temporary selling pressure, it has remained in a stable trend. However, many investors are cautious ahead of today’s Consumer Price Index (CPI) report.
The CPI is expected to increase from 2.7% last month to 2.9%. Even so, because long-term interest rates are already at high levels, it is unlikely they will rise further.
Gold’s upward trend is expected to continue. It may test the high level of 2,720, which was reached in November and December last year, once again.
Gold-Dollar Expected Range: 2,680–2,653
Note: The above information does not guarantee profits. Make your trading decisions carefully.