Today (January 11) the gold price is moving in an upward direction, and the gold price supports the rise. It is the trend of the dollar and US bond yields that have fallen. After JPMorgan Securities Management Institute (JPMAM) came out and indicated the possibility of the Federal Reserve Bank (Fed) cutting interest rates more than 3 times as it indicated. This is consistent with the assessment of the possibility of the US economy facing a recession this year, but investors still respond to this information in a limited way. We are still waiting to receive important economic numbers from the US, such as the General Consumer Price Index (CPI) and December Core CPI, tonight at 8:30pm because it is important information for assessing the US inflation trend and the Fed's interest rate expectations. The CPI and core CPI are expected to rise by 3.2% and 3.8% from the previous year, respectively. However, it is likely that the numbers are correct. This reading came higher than the core expectations of 3.3% for the CPI and within the range 3.9% to 4.0% for core CPI. Therefore, dollar and US bond yields are likely to rebound. Click on gold prices to adjust them tonight.
advice
• Consider selling if the price does not cross the resistance area of $2,046-2,064 per ounce.
• Buy back to make a profit. If the price declines and does not break the support area $2,009-1,992 per ounce.
• Reduce investment if the price crosses the resistance level of $2,064 per ounce.
This article was produced by YLG Bullion International.
For more information, call 02-687-9888 press 1 or website ylgbullion.co.th
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