**Repost from Dec 14th 2022 since the original post disappeared**
Though the CPI figures released last night were lower than expected, if you look one by one, you will notice that the price of services (Core Services) has not yet decreased, but food and oil prices have.
GOLD
As a result, let's keep our eyes on the Federal Reserve's interest rate announcement in upcoming hours, which many agencies, including Oxford Economics, Bloomberg, Forex Factory, and Trading Economics, expect to be 0.5%.
If the Fed remains concerned and interest rates rise more than expected (0.5%), gold will take another ride up the hill tonight. If not, we should brace ourselves for a trip to Death Valley.
Let's prepare for a ride~~
Though the CPI figures released last night were lower than expected, if you look one by one, you will notice that the price of services (Core Services) has not yet decreased, but food and oil prices have.
GOLD
As a result, let's keep our eyes on the Federal Reserve's interest rate announcement in upcoming hours, which many agencies, including Oxford Economics, Bloomberg, Forex Factory, and Trading Economics, expect to be 0.5%.
If the Fed remains concerned and interest rates rise more than expected (0.5%), gold will take another ride up the hill tonight. If not, we should brace ourselves for a trip to Death Valley.
Let's prepare for a ride~~