Gold price recovered slightly on CPI news

Smart investment, Strong finance

GOLDEN INFORMATION:
According to CME Group's preliminary data on gold futures markets, traders increased their open interest positions by approximately 2.3K contracts after experiencing four consecutive daily declines on Wednesday. However, the volume remained volatile and decreased by around 3.5K contracts, partially offsetting the previous day's gains.

On Wednesday, the price of gold fell to its lowest point in four weeks, reaching around $1915 per troy ounce. This decline was attributed to the growing open interest, indicating a potential further decrease in the near future. As a result, the $1900 level is expected to be the next significant support level for gold.

Please note that I am unable to provide a specific tone of voice as it is not mentioned in your request for this particular text rephrasing task.

Personal comments NOVA:
Expect better-than-expected CPI news, positive for the dollar and gold to continue its downtrend. Approaching price zone 1905

SET UP GOLD PRICE:
BUY GOLD zone: $1905 - $1903 SL $1895
TP 1: $1912
TP2: $1923

SELL GOLD zone: $1930 - $1933 SL $1942
TP1: $1918
TP2: $1905

Technical analysis:
Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order.

NOTE:
Note: Nova wishes traders to manage their capital well
- take the number of lots that match your capital
- Takeprofit equal to 4-6% of capital account
- Stoplose equal to 2-3% of capital account
- The winner is the one who sticks with the market the longest

Comment:

The price is sideways in the 1915-1920 zone, waiting for the announcement of CPI news

Comment:

+ 120 pips, from entry 1930 as in the analysis

Comment:

+ 160 pips, great. Exactly downtrend

Comment:

Price close to entry zone 1910-1912, Prepare BUY gold

Comment:

+ 50 pips , from entry BUY 1910-1912

Comment:

Gold price continues to be gloomy this week , Sideway narrow range 1910 -1920 waiting for the final news this week to be announced

Trade active:

Gold price assessment is still falling after PPI news is announced

Comment:

The news was announced but the gold price still reacted quite slowly, the price supported the downtrend in the following week

Trade active:

Price is moving in the right direction, comment , may move to 1905 zone early next week, Good news for the dollar is not supporting gold price

Buy GOLD 1903-1905

Comment:

Personal opinion next week: Downtrend still dominates

Trade active:

+ 80 pips , from entry 1903