The gold price remained around $2,021 at the early Asian trade on Monday. American economic activity shows that price growth is stubborn than predicted. Prompting markets to lower hopes that the US Fed would begin decreasing rates of interest in Jun. The gold value stood at $2,021, up 0.12 percent for the period in question.
The PPI for final consumer demand was up 0.3 percent M over M in January of this year. Following a 0.1 percent fall in Dec, the highest gain before August of 2023. On a yearly scale, the PPI statistic increased 0.9 percent year on year, up from 1.0 percent from the preceding report. At this point, US construction starts decreased 14.8 percent, from 1.562 million to 1.331 million, whereas permits for construction fell 1.5 percent.
Gold (XAUUSD) Highlights
The gold price rises to $2,021as the US dollar weakens.
The US PPI increased by 0.3 percent month over month in January, compared to a 0.1 percent fall the previous month. its highest gain until August of 2023.
The current international tensions in the region of the Middle East may enhance safer outflows including gold prices.
Investors will be watching the PBOC rate of interest announcement and the US FOMC Proceedings.
Gold Outlook
Although gold has recovered over the key support mark over the last couple of days, it remains generally inside the $2,000 to $2,050 pricing range formed from the middle of January. The Gold has failed to gain inroads despite the threat of persistent inflation in the United States and increasingly aggressive monetary policy outlook.
The strengthening of the dollar impacted on gold, as it hovered at a 3month top. Following better-than-estimated producer PPI inflation figures published on last Friday.
The number comes just a few days after the CPI showed higher-than-expected growth in Jan. Persistent inflation reduces the Federal Reserve’s incentive to start relaxing its fiscal stance right away. As several US Fed members have cautioned in the past few weeks.
Technical Summary – Indicators & Signals
Technical Indicators – (Daily)
| Name | Value | Action |
| RSI(14) | 49.252 | Neutral |
| STOCH(9,6) | 33.770 | Sell |
| STOCHRSI(14) | 51.870 | Neutral |
| MACD(12,26) | -6.320 | Sell |
| ADX(14) | 28.078 | Buy |
| Williams %R | -57.892 | Sell |
| CCI(14) | -31.3491 | Neutral |
| ATR(14) | 20.6000 | Less Volatility |
| Highs/Lows(14) | 0.0000 | Neutral |
| Ultimate Oscillator | 47.393 | Sellin mode |
| ROC | -1.666 | Sell |
| Bull/Bear Power(13) | 2.0360 | Buy |
| Buy: 2
Sell: 5 Neutral: 4 Signal :SELL |
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Moving Averages- Daily
| Period | Simple | Exponential |
| MA5 | 2020.40 Buying Mode |
2026.93 Buy |
| MA10 | 2028.05 Buy |
2028.19 Buying mode |
| MA20 | 2036.59 Sell |
2033.92 Selling Mode |
| MA50 | 2043.12 Sell |
2031.00 Buying |
| MA100 | 2011.30 Buying Mode |
2016.81 Buy |
| MA200 | 1979.66 Buy |
1977.32 Buying Mode |
| Buy: 9
Sell: 3 Signal: BUY |
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Trend – Steady to Bullish (Near-Term)
