Gtag:

Gold Rises Sharply ahead of U.S. PPI Results, $9+ Volatility Likely; Oct 14, 2021

U.S. PPI & Core PPI Results

The only event for the U.S. Session will be U.S. PPI, Core PPI and unemployment Claims weekly Results scheduled at 1230 GMT/1800 IST. It’s a leading indicator of consumer inflation – when producers charge more for goods and services the higher costs are usually passed on to the consumer.

Let’s see how Gold has reacted during the previous data release:

Sept 10:

Aug 12:

Technical View:

XAU/USD:

  • Gold starts a new day on a positive note and touches $1,797 mark during European Hours.
  • Today pair made intraday high at $1,797 and low at $1,786 mark.
  • A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
  • A sustained close above $1,802 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,778 will check further supports.

SUPPORTS RESISTANCES
$1,778 $1,804
$1,772 $1,809
$1,765 $1,815
$1,758 $1,820
$1,752 $1,826

Take a look and do trade wisely!
Good Luck

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