Gold showed a minor pullback ahead of US CPI
and Fed policy.Read Till End
Marlets expects a weak headline CPl at 0.10%
m/m from 0.30% previous month. Core CPI is
expected to rise by 0.30% m/m from 0% in Apr.
Any hawkish rate pause will drag the precious
metal further down
Technical:
The near-term support is around $2290, a
break below the target of $2280. The yellow
metal faces minor resistance around $2320
and a breach above will take it to the next level
of $2330.
Signal
Sell $2320-18 with SL around $2330 for TP of
$2300.
Buy $2300-18 with SL around $2290 for TP of
$2330.