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US Inflation at Record Level, Gold Shoots up

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US Inflation at Record Level, Gold Shoots up

Gold Price Prediction Tomorrow


The markets no longer seem convinced that the current high inflation is as “temporary” as the US Federal Reserve would like it to be. It was announced yesterday that US consumer prices rose 6.2% annualized in October – their highest level since 1990. Gold reacted promptly.

In response to the latest data, the price of gold shot up nearly $ 40, the Comex futures were meanwhile 2% up, while the stock markets fell. In early European trading, an ounce of the metal still costs around $ 1,854.

On a monthly basis, the Consumer Price Index (CPI) was up 0.9%, the largest increase in four months. Even the so-called “core CPI”, which does not include the prices for food and energy, increased by 4.6% compared to the previous year, which is the largest increase since August 1991.

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Gold: The BIG Comeback

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Gold: The BIG Comeback

Gold: The BIG Comeback

 In the past few months the gold price has been looking for direction, now it has made a decision: it is going up again. US inflation is likely to play an important role here.

Since July there has been a stalemate on the market – the high inflation actually spoke in favor of a rising gold price, but the prospect of an imminent tightening of monetary policy on the other hand – rising interest rates increase the opportunity costs for interest-free gold.

Now the tug-of-war has been decided in favor of a rising gold price. That is quite understandable. Because the FED is rather hesitant to tighten its monetary policy, with a cautious reduction of the purchase volume of fixed-income securities by only 15 billion US dollars per month. The tapering could last until the middle of next year, and interest rate hikes will only be on the agenda after that.

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Advanced Price Action Patterns

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 Advanced Price Action Patterns Stock prices may remain flat for a period of time, and the shape of the stock price transition (chart pattern) during this period may imply an uptrend or a downtrend thereafter. In this case, the chart pattern can be roughly divided into those showing the trend reversal and those showing the … Read more

EUR USD Technical Analysis

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EUR USD Technical Analysis Up to now, the 10 EMA has been exceeded and the 50 EMA has been started as a result. EUR / USD is currently quoted directly at the 50 EMA and was out of the day before with a long white candletradewent. So far, upward corrections in the EUR / USD … Read more

Gold Chart Analysis: Still Undecided

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Trend of the daily chart : downward / sideways Brief classification  A downward trend structure has established itself from the correction from the all-time high at $ 2,089.2. The interim rally that began in early April was rejected at the $ 1,900 resistance in a strong corrective move from the June high. The recovery attempts … Read more

GOLD PRICE PREDICTION FOR NEXT WEEK

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  GOLD PRICE PREDICTION FOR NEXT WEEK Review :GOLD PRICE PREDICTION FOR NEXT WEEK The gold and silver prices and thus also the gold and silver mining stocks have been in a difficult and tough correction phase since August 2020. The gold price has hit lows in the range of USD 1,677 three times . This price was last tested in the Flash Crash on … Read more