Gold Price Analysis: Upward Trend After Slowing CPI, Fed’s Interest Rate Pause, and BOJ’s Monetary Policy Outlook

Today (June 14), there is an upward trend. After the shutdown fell the previous day, however, last night (June 13), the US revealed the consumer price index (CPI) in May that slowed down more than expected. And slowing to the lowest level in more than two years, which is encouraging the Federal Reserve (Fed) to hold off on raising interest rates at this meeting, data from CME Group’s FedWatch Tool indicates investors are giving water. About 95% weighed on this trend. As a result, the dollar was under pressure to move down, making the price of gold a positive factor for the rise. while this afternoon The yen and Japanese bond yields rebounded after investors viewed that there is no chance that the Bank of Japan (BOJ) will tighten monetary policy at its meeting this week, thus investors sold. Japanese government bonds as a hedge As it continues to expect that the BOJ may start adjusting monetary policy towards the end of the year. This is another factor that puts additional pressure on the dollar. The price of gold therefore received more support as well. However, the gold price still swing in a narrow frame Because investors tend to slow down trading to wait for interest rate resolution and US economic projections, including revised top interest rate expectations. Investors are also waiting to keep an eye on Fed Chairman Jerome Powell’s announcement, which will help assess the outlook for the Fed’s monetary policy going forward.

advice

• Take short-term profits. If the price can stand above the support zone of 1,938-1,932 dollars per ounce.

• Waiting to sell for profit. If the price rises, does not cross the resistance zone of 1,970-1,984 dollars per ounce.

• Buy-loss status If the price breaks the support at $ 1,932 per ounce.

This article was produced by YLG Bullion International.

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