💡 XAUUSD: Continue to increase or decrease?

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Many analysts believe that, although gold has experienced a strong week of increases and will likely continue to increase in the near future.

However, traders are worried that if the US consumer price index report for February published on March 12 increases, expectations of interest rate cuts by the US Federal Reserve (Fed) will continue. continue to prolong.

Some experts predict that inflation may rise faster than expected as a direct result of the spike in energy costs. Experts warn that gold investors should be cautious, a slight increase in the inflation index will also cause gold prices to decrease in the short term.

SET UP - BUY LIMIT 2174 - 2172
TAKE PROFIT 1: 2180
TAKE PROFIT 2: 2185
STOP LOSS: 2167

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President Kevin Grady of Phoenix Futures and Options predicts that the upcoming report will create major fluctuations in the gold market. Data will help investors know more clearly about when the Fed will cut interest rates.

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Gold Sideway

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