Gold Trend vs Hawkish Fed and US Core CPE report

Gold is trading from 2338 to 2349 after yesterday’s soft U.S GDP report and hawkish Fed message.

The May 30, U.S GDP release is softer than expected which makes investors to expect the Fed has to cut its interest rate. Gold has gone from 2331 to 2351 after U.S GDP release.

However, the Fed has said that it will not cut interest rate at the moment which has sent gold price into consolidation. Gold has dropped from 2351 to 2337 after that.

Today, May 31, there is U.S Core CPE report release which is an inflation report. Today’s U.S Core CPE release will set a new gold trend.

Case 1: U.S Core CPE release is weaker then expected (less than 2.8%), the U.s Dollar will be sold off and gold will break the 2351 level go to to 2361-2363 and further.

Case 2: U.S Core CPE release is stronger than expected (greater than 2.8%), the U.S Dollar will be in high demand and gold will drop to test the 2323-2325 or 2303-2305.

Bellow is $1500 profit Gold Buy Signal 2163 after FOMC on Mar 20 2024.

Would you like to Stop Losing trading Gold and Learn How to make $1,500 Profit / trade? Please Click Here

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.