Against the backdrop of a moderate increase in consumer prices in July, the data suggested that the battle to bring inflation back to the Fed's 2% target is far from being won. The outlook keeps the door for one more 25 basis points (bps) Fed rate hike move by the end of this year wide open, which continues to push the US Treasury bond yields and act as a tailwind for the USD. This, in turn, is seen as another factor that contributes to capping the upside for the US Dollar-denominated Gold price and suggests that the path of least resistance is to the downside
Gold sell 1915
Target 1907
Gold buy limit 1907
Target 1930
Gold sell 1915
Target 1907
Gold buy limit 1907
Target 1930
Comment:
80 pips target hit sell done ✅
Comment:
Buy limit active running 20 pips