Conflict, Growth, and Inflation. Will These Factors Shake Up Gold?

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Conflict, Growth, and Inflation. Will These Factors Shake Up Gold?

  • Earlier this week, a potential conflict was brewing in Russia, which worried the market.
  • This week, the market is assessing the US economic condition by observing the US GDP growth data.
  • Apart from the inflation rate that was announced earlier this month, the market is pending the Core PCE Price Index data, which Feds utilized to gauge on the inflation.
  • From a technical perspective, Gold has sustained its position under the previous support area at 1,930 – 1,950 USD per troy ounce.
  • The price may reach its intraday target at 1,960 – 1,970 USD per troy ounce if it can close above 1,935 USD per troy ounce.
  • On the contrary, should the price continue to plunge, the next target will be around 1,890 – 1,910 USD per troy ounce.

Stay tuned for more updates in the future.
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