Dear friends, today gold continues to move below the resistance level of $2033, following a downward trend.
In particular, the inflation data for January, with consumer prices and wholesale prices rising faster than expected, has made the US Federal Reserve more difficult in making a decision to loosen monetary policy.
Gold may continue to trade sideways in the short term, and the market is awaiting the release of the Personal Consumption Expenditures (PCE) report next week, followed by the Federal Reserve Chairman Jerome Powell's testimony at Congress in early March.
In particular, the inflation data for January, with consumer prices and wholesale prices rising faster than expected, has made the US Federal Reserve more difficult in making a decision to loosen monetary policy.
Gold may continue to trade sideways in the short term, and the market is awaiting the release of the Personal Consumption Expenditures (PCE) report next week, followed by the Federal Reserve Chairman Jerome Powell's testimony at Congress in early March.
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