Gold Analysis – 16.Feb.2024
Gold Analysis: By checking the gold chart in the daily time frame, we can see that as we expected, the actual PPI rate was announced 0.3% and the actual Core PPI rate was announced 0.5%, which were much higher than the predicted rate of 0.1% , And for this reason, the dollar index (DXY) was accompanied by growth and gold with a heavy fall and corrected from $2008 to $1995! In my opinion, next week we will see a relative growth first and then with a further fall of gold! So our main view is still Bearish !
(This Post on TradingView)
Author : Arman Shaban
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