Gold futures posted their first loss in three sessions on Wednesday, reversing nearly all of Tuesday’s gains and pushing prices yellow to nearly two-week highs. According to analyst Myra P. Saefong, Tuesday’s US inflation data proved supportive for precious metal prices, pushing gold futures to their highest level since early September as the US dollar fell. For reviews of Analisdollarserine gold Cryptocoin. com continue reading e.
Gold reviews of AvaTrade and BullionVault analisdollar series
The US consumer price index rose just 0.3% in August, compared to a 0.5% increase in July. Asked about gold comments, AvaTrade chief market analyst Naeem Alsam said:
Tapering uncertainty is the most important factor for gold and as long as we don’t get any nedollarsik in this regard, gold fiadollaryel is likely to remain in the consolidation zone.
Naeem Alsam, looking at the data, states that there is not much pressure for the Central Bank to take an aggressive stance in the meeting he will hold next week and makes the following inference:
However, traders still believe that a reduction (monthly bond purchases) is on the table for this year. The most important event for the gold price right now is next week’s meeting, and until then, it’s possible that gold prices will continue their whiplash movement.
Adrian Ash, director of research at BullionVault, comments on the expectations below:
Inflation growth in 2021 is well beyond 1970s levels, but as energy prices rise, they have gone global, and yet gold is not responding. For now, it’s clear that the precious metals market agrees with central bankers that this increase in inflation is temporary. However, if this energy turmoil continues and a winter fuel crisis pushes inflation back up, today’s $1,800 gold may seem cheap at a glance.
Carlo Alberto De Casa: Investors expect more nedollarsic from Fed on timing of rate cut
Meanwhile, some analysts say the Fed’s meeting next week may not deliver the nedollarsic investors are looking for. Kinesis Money analyst Carlo Alberto De Casa points out in a daily research note for gold reviews:
Indeed, investors expect more nedollarsik from the Fed on the timing of the rate cut. However, this will likely not come at the September meeting, increasing the chances of holding the bonds in the current uncertainty, waiting for a clear direction.
US data released Wednesday showed that the cost of goods fell for the first time in 10 months in August, with the import price index falling 0.3%. Separately, the New York Fed’s Empire State index of business conditions rose 16 points to 34.3 in September, according to the regional Fed bank. But according to a survey by The Wall Street Journal, sdollarser expected a data of 17.2.
US industrial production rose 0.4% last month, less than expected, and capacity utilization rose to 76.4%, the highest rate since December 2019. Against this backdrop, the US dollar index (DXY) fell 0.1% to 92.53. Meanwhile, benchmark 10-year Treasury yields stand at around 1.311, up 1.319 percent after Tuesday’s slide. According to analyst Myra P. Saefong, a weaker dollar and lower yields could support non-yielding bullion purchases among overseas investors.