Скачать или смотреть 🚀🚀💰Gold's Fate Hinges on US CPI Data Release!🚀🚀🎊

Gold's fate is hanging in the balance today, as traders eagerly await the US Consumer Price Index (CPI) data release. The precious metal has been on a six-day losing streak, and its price is currently hovering above $2,600
Fundamental Analysis
The market's expectations for the next Federal Reserve policy move remain unchanged, despite the Minutes of the Fed's September meeting being read dovishly. The US CPI data for September will play a crucial role in determining the Fed's next move, with an annual CPI growth rate of 2.3% expected, down from 2.5% in August

Technical Analysis:
From a technical standpoint, gold's price has fallen below the key 21-day Simple Moving Average (SMA) support, currently at $2,619. The 14-day Relative Strength Index (RSI) remains above 50, indicating that buyers are still hopeful about a potential turnaround

Key Levels:
Here are the key levels to watch:

Immediate Support:_ $2,600
Resistance:_ $2,623 (21-day SMA)
Bullish Targets:_ $2,650, $2,670
Bearish Target:_ $2,585 (September 20 low)

Pivot Point:
The pivot point for gold is currently at $2,619, with support levels at $2,600 and $2,585, and resistance levels at $2,623 and $2,650

Keep in mind that these levels are subject to change based on market conditions and the release of the US CPI data.
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