Gold Forecast: Market Awaits CPI Figures Gold Trading metals markets
The entire world now is worried about what the Federal Reserve is going to do, as everything is moving based upon the idea of whether there is going to be cheap and easy money, or if the Federal Reserve will have to continue to tighten its policy. At this point, it’s also worth pointing out that the Producers Price Index came out as 0.4% month over month on Wednesday, instead of the expected 0.2%. In other words, inflation is not dropping, at least not in that part of the US economy.
sits right around the $1720 level, and it looks as if it is going to continue to offer dynamic resistance as we have seen multiple times. It’s also dropping, so it does make quite a bit of sense that we will continue to see plenty of selling pressure.for the Tuesday session, you kicked off an inverted hammer move, and it could open a drop back down to the lows again.
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