Highlight essentials
· Gold rose $9.90!! Responding to inflation, Core PCE has no surprises!!
· Last night, gold had strong purchasing power. After the market eased some concerns About the direction of US inflation, US Core PCE is at the market’s expected level of 2.8% y/y, down from 2.9% and monthly at 0.4% m/m, although higher.
· The president of the Atlanta Fed pointed out that although inflation is still higher than the target But he saw an adjustment. Expected to begin depreciating in the summer, Bond yields are being shorted, supporting gold as high as $2,050.
· This may follow the dollar index which turns stronger. It may come back to weigh on gold.
Council
· If the gold price tests the resistance zone at 2,050 dollars per ounce. If you can’t stand There may be short-term selling pressure again. Because of the recent period when the price of gold has increased. Selling pressure is still coming in to keep the price down.
· It is recommended to take risks by opening a sales position. If the price does not pass the said resistance level. (Cut the loss if the price passes 2,065 dollars per ounce)
· Wait to close the sell position to make a profit. If the price falls, it can stand above the support zone of 2,034-2,019 dollars per ounce.
This article was produced by YLG Bullion International.
For more information, contact 02-687-9888 press 1 or the website ylgbullion.co.th
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