ANALYSIS
NQ100 Finds Support from PPIApr 14
XAUUSD: Interest Rate Pressure Continues on Ounce Gold
According to the data released by the U.S. Department of Labor, the Consumer Price Index (CPI) rose 8.3 percent on an annual basis in April, beating market forecasts. Although the data showed a decline of 0.2 points from the previous month, the emergence at the 41-year high raised expectations that the Federal Reserve (Fed) would not reduce the pace of monetary tightening, which increased the pressure of the dollar on asset prices. Technically, the outlook for the yellow metal's prices will continue to be downward as long as the 1872 level, indicated by the 100-period weighted moving average, which is a key determinant of the price of the ounce of gold, is maintained as resistance.
