Gold gained momentum despite strong US
inflation data.

Gold prices rose to their highest level in more
than 3 weeks on May 15 (US time) thanks to
support from the weakness of the greenback
and falling yields after the latest inflation report.
Published data showed that the US consumer
price index in April increased less than
expected, increasing the possibility of interest
rate cuts by the US Federal Reserve (Fed). 

The dollar fell 0.5% to its lowest level in more than aonth, making gold more attractive to holders
of other currencies. Benchmark 10-year
Treasury yields also hit a more than 1-month
low.The CPI rose 0.3% last month after rising 0.4% in March and February, suggesting inflation continued its downward trend at the beginning
of the second quarter. 
This has pushed up financial market expectations of an interest rate cut in September. According to Reuters poll results, economists forecast CPI to increase 0.4% in the month and up 3.4% over the month with the same period last year.

After breaking the $2,366 level yesterday, gold
nas also confirmed the breakout of the falling
price channel and now the target increase
could be aimed at the raw price point of $2,400
in the short term and more to the $2,417 level
In addition, gold also forms an increasing price
channel in the short term and this will
prices in the near s thte hric chanhel for gold
technically be the trend price channel for
in the near future. 
As long as gold
remains above the EMA21 and within the price
channel, the outlook is technically bullish.