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Home Gold News Gold Price Update: Resistance Continues to Hold XAU/USD Bulls at Bay

Gold Price Update: Resistance Continues to Hold XAU/USD Bulls at Bay

by anna

The precious metal is having a quiet start to the week with spot gold trading on either side of $1,920/oz. so far today. Gold volatility is currently sitting at a multi-month low, while the CCP indicator shows that gold is neither overbought or oversold.

This may change mid-week however when the latest US inflation data is released.

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US core inflation is expected to fall to 5% from 5.3% in May y/y, while headline inflation is seen falling to 3.1% from 4% last month. Headline inflation hit a multi-decade high rate of 9.1% in June last year.

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