Today’s gold price (January 11) moves in an upward direction. The gold price is supported to increase. From the direction of the dollar and US bond yields that have decreased. After J.P. Morgan Securities Management Institute (JPMAM) came out and pointed out the possibility that the Federal Reserve (Fed) may cut interest rates more than 3 times as signaled. This is consistent with the assessment of the possibility that the US economy may face a recession this year. However, investors still responded to the information only to a limited extent. Still waiting to receive important economic numbers from the United States, such as the General Consumer Price Index (CPI) and Core CPI for December, tonight at 8:30 p.m. because it is Important information for evaluating the direction of US inflation and the Fed’s interest rate outlook. It is expected that the CPI and Core CPI will increase 3.2% and 3.8% from the previous year, respectively. However, it is possible that the numbers Maybe true It came out higher than the core forecast of 3.3% for CPI and in the range of 3.9-4.0% for Core CPI. Therefore, the dollar and US bond yields are likely to rebound. Putting pressure on gold prices to adjust down tonight.
Advice
• Consider selling if the price does not rise past the resistance zone of 2,046-2,064 dollars per ounce.
• Buy back to make a profit. If the price drops and does not break the support zone of 2,009-1,992 dollars per ounce.
• Reduce investment if the price passes the resistance level of $2,064 per ounce.
This article was produced by YLG Bullion International.
For more information, contact 02-687-9888 press 1 or website ylgbullion.co.th
2024-01-11 17:49:48
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