XAUUSD - After the PPI news, will gold fall?
Continuing to accelerate from the previous session, the DXY index (the movement of the greenback compared to the balance of 6 major currencies) decreased sharply from 104.8 points to 104.1 points in the first trading session on the market.
The USD fell after US inflation was unexpectedly lower than forecast, reinforcing confidence that the US Federal Reserve (Fed) will not raise interest rates.
Specifically, US generation in October did not change compared to the previous month. The consumer price index (CPI) increased by 3.2% compared to 2022 and remained unchanged compared to September. Previously, economists consulting the Dow Jones survey predicted that this month's CPI would increase by 0.1 % compared to September.
This information gives hope that prices are easing pressure on the US economy. Investors believe interest rates have gained value.
Life on US Treasury bonds has also fallen sharply. Yields on 10-year notes fell to just over 4.4%, thus rebounding above 5% at the end of October.
Gold prices increased while countries still strongly imported gold and increased their reserves of this precious metal.
The USD fell after US inflation was unexpectedly lower than forecast, reinforcing confidence that the US Federal Reserve (Fed) will not raise interest rates.
Specifically, US generation in October did not change compared to the previous month. The consumer price index (CPI) increased by 3.2% compared to 2022 and remained unchanged compared to September. Previously, economists consulting the Dow Jones survey predicted that this month's CPI would increase by 0.1 % compared to September.
This information gives hope that prices are easing pressure on the US economy. Investors believe interest rates have gained value.
Life on US Treasury bonds has also fallen sharply. Yields on 10-year notes fell to just over 4.4%, thus rebounding above 5% at the end of October.
Gold prices increased while countries still strongly imported gold and increased their reserves of this precious metal.
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✔️TP1: 1954
✔️TP2:1945
❌SL: 1970