Economic Indicators

20：30 Canada CPI (MoM) (May)‧Fcst+0.3%‧Prev+0.5%
20：30 Canada CPI (YoY) (May)‧Fcst+2.6%‧Prev+2.7%
20：30 Canada Core CPI (YoY) (May)‧Prev+1.6%
20：30 Canada Core CPI (MoM) (May)‧Prev+0.2%
21：00 US House Price Index (MoM) (Apr)‧Prev+0.1%
21：00 US House Price Index (YoY) (Apr)‧Prev+6.7%
22：00 US CB Consumer Confidence (Jun)‧Fcst100.0‧Prev102.0

XAU London Gold - Gold prices rise as dollar retreats, focus on U.S. inflation data

London gold edged higher on Monday, mainly helped by a retreat in the dollar, as investors awaited U.S. inflation data due later this week, which may affect the path of monetary policy from the U.S. Federal Reserve (FED). Gold is broadly in consolidation mode as investors look for clues about the future trajectory of interest rates and the timing of potential rate cuts. The focus this week will be Friday's U.S. personal consumption expenditures (PCE) price index data, the Fed's favored inflation measure. In addition, at least five Fed policymakers will speak this week, including San Francisco Fed President Daly and Fed Governors Cook and Bowman. Traders currently see a 67% chance of a rate cut by the Fed in September, according to CME's FedWatch tool.

As can be seen from the technical chart, the overall gold price can maintain a bottom near the $2280 level in early May, and the gold price can also stop at a low level of $2286.50 in early June. The MACD indicator has begun to break through the signal line, and the gold price is expected to remain at $2286.50. rising tendency. The current resistance is at $2350 and $2370, and the next level of resistance is at the high of $2387.60 on June 7 and even at the 2400 mark. As for the support level, we will first pay attention to the rising trend line of $2308. For the time being, the gold price has managed to hold above this trend line in the past two weeks, but we must also be cautious. If the market outlook clearly falls below this area, the overall rise in the past three months may be Reported a reversal; the greater support will refer to the gold price correction bottom of $2277 in early May, and pay attention to $2250 at the next level.

London Gold June 25
Forecast early volatility: 2326 – 2335
Resistance 2341 – 2346 – 2365
Support 2312 – 2294 – 2279

SPDR Gold Trust gold holdings:
June 17 – 825.31 tons
June 18 – 825.31 tons
June 19 – 825.31 tons
June 20 – 823.65 tons
June 21 – 831.93 tons
June 24 – 829.05 tons

24/6 AM London Gold Fix: $2327.2
24/6 PM London Gold Fix: $2328.75
 

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