ANALYSIS
NQ100 Finds Support from PPIApr 14
Ounce Gold Gets Support From Decreasing U.S. Inflation
As the US Department of Labor reported the day we left behind; The consumer price index (CPI), realized at the level of 8.5 percent on an annual basis in July, retreated from the 41-year peak of 9.1 percent in the previous month. On the other hand, while the interest rate hike expectations from the US Federal Reserve (FED) for September decreased to 50 basis points, we see that the demand for ounce gold revived. In addition, the increase in cases in China and the government crisis in Italy are also affected. Technically, if the 1800 level, which stands out as the psychological border line above, can be broken permanently with buy-side transactions, the value gains can last until 1814, which will be the highest level since July 4th. 1772 and 1758 supports can be followed in the stretches below the possible recovery channel.
