Gtag:

Gold Touches $1,980 mark Ahead of U.S. PPI data, $10+ Volatility Likely During Fundamental News: April 13, 2022

U.S. PPI & Core PPI Data

Today U.S. has scheduled to release PPI, Core PPI data 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. Food and energy prices make up about 40% of overall PPI which tends to mute the importance of the Core data.

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

March 15:

Feb 15:

Let’s check out key headlines from Russia –Ukraine:

  • Russia has yet to slow a Western arms express into Ukraine.
  • Ukraine President Zelenskyy says this is clear terror against civilian population.
  • Ukraine President Zelenskiy says Ukraine should get ‘EUcandidate’ status.
  • Ukraine President Zelenskyy says instruments need to be found to pressure Russia to stop forcibly deporting Ukrainians.
  • Ukraine President Zelenskyy says sanctions on Russia need to continue, it’s the only instrument that could force Russia to peace.
  • Over 1,000 Ukrainian soldiers surrender in Mariupol, says Russia.
  • US prepares massive new surge of military aid to Ukraine.
  • US likely to announce $750 million new military aid for Ukraine, reports ANI.
  • Putin vows to press invasion until Russia’s goals are met, reports AP.
  • China’s Jan-March overall trade with Russia rises 28% to $38.2 billion, reports Reuters.
  • Biden says Putin trying to ‘wipe out idea of even being Ukrainian’, reports AP.
  • source: Times of india

Technical View:

XAU/USD (GOLD):

  • Gold appreciates on Wednesday and touches $1,779 mark in European hours.
  • Today pair made intraday high at $1,979 and low at $1,962 mark.
  • A triple EMA on a day chart and H1 chart suggest up trend for the time being.
  • A sustained close above $1,978 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,961 will check further supports.
SUPPORTS RESISTANCES
$1,961 $1,982
$1,956 $1,989
$1,948 $1,994
$1,942 $1,999
$1,936 $2,005

 

Take a look and do trade wisely!
Good Luck

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