ANALYSIS
NQ100 Finds Support from PPIApr 14
Strong Dollar Continues to Suppress Ounce Gold
Global markets are still feeling the effects of the Jackson Hole meeting. The dollar, strengthened by the US Federal Reserve (FED) Chairman Jerome Powell's signals that interest rate hikes will continue to prevent high inflation from being permanent, putting pressure on ounces of gold. Technically, psychological 1700 support can be followed if the yellow metal, which maintains its descending channel movement, permanently crosses below the 1716 level. In the upward movements that may be experienced, the resistances of 1745 and 1760 may come to the fore.
