XAUUSD continues to form a higher low on the daily timeframe indicating a continuing bearish trend. Gold will tend to be bearish supported by the sentiment of the COT which gives a signal of selling gold, they began to leave long contracts, continue to add short contracts. the dominant long position has changed for short tendencies.
After the release of inflation data it seems that gold began to show significant bearish, inflation fell in June 9.5%, July 8.5%, August 8.3% indicates that the fed managed to reduce the inflation rate of tightening monetary policy.
If the inflation data release in September is below 8.3%, it is not impossible that gold will fall deeper below blue static support.
Prices may be higher in the event of heated political-military conflicts or natural disasters (Monkeypox, Coronavirus).
After the release of inflation data it seems that gold began to show significant bearish, inflation fell in June 9.5%, July 8.5%, August 8.3% indicates that the fed managed to reduce the inflation rate of tightening monetary policy.
If the inflation data release in September is below 8.3%, it is not impossible that gold will fall deeper below blue static support.
Prices may be higher in the event of heated political-military conflicts or natural disasters (Monkeypox, Coronavirus).
www.cftc.gov/
tradingeconomics.com...states/inflation-cpi