Focus On US CPI Data Tonight, Could Gold Price Maintain The Rally?
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Tonight, the United States will release July CPI data, which may provide support for the Federal Reserve to further raise interest rates in September, dragging down the short-term performance of gold prices. However, if U.S. inflation data cools more than expected, it may push gold prices higher. Coupled with the continuing tensions in the Western geopolitical situation, it is expected to attract bargain-hunting buying and support the price of gold. Therefore, it is recommended that investors pay close attention to the US CPI data tonight, which will have an impact on the trend of gold prices.
The trend of gold can be paid attention to…
Latest news on the Russian-Ukrainian war
-20:30 US CPI (July)
-22:00 US Wholesale Sales (MoM) (June)
-20:30 US Unemployment Claims for the week ending 8/6
-20:30 US PPI (MoM) (July)
-22:00 Preliminary value of the University of Michigan Consumer Confidence Index (August)
Which will affect the trend of gold, and investors must seize the opportunity to place orders.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.