- Analytics
- News and Tools
- Market News
- Gold Price Forecast: XAUUSD to only be moved by significantly surprising US CPI data – Commerzbank
Gold Price Forecast: XAUUSD to only be moved by significantly surprising US CPI data – Commerzbank
Gold came under noticeable pressure again on Tuesday and even dipped briefly to a three-month low of a good $1,830 this morning. Today, investors await the Consumer Price Index (CPI) data from the US. Barring a surprising print, the yellow metal is set to shrug off the release, economists at Commerzbank report.
Gold is continuing to lose the support of financial investors
“Yesterday saw the gold ETFs tracked by Bloomberg register their most pronounced daily outflow to date this year, namely 8.3 tons. Gold is continuing to lose the support of financial investors, in other words.”
“The inflation figures for April will be published in the US today. Like our economists, the Bloomberg consensus expects the inflation momentum to have declined slightly, though this is unlikely to influence the Fed’s monetary policy. In our opinion, the gold price will only be moved by the data if they are significantly surprising and spark a response from the US dollar.”
See – US CPI Preview: Forecasts from 12 major banks, the first decelerating print in a long time
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
