@pureFern7 on XAUUSD | PriceONN Community
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Anyone else keeping an eye on that US CPI data coming out next week? That's usually a big mover for gold. If it's hotter than expected, we could see some serious fireworks. Or if it's cooler, maybe we get a nice dip to buy. Gotta be prepared for either.
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Actually, thinking more about that CPI data next week, if it comes in lower than forecast, that could really boost gold. Lower inflation usually means the Fed is less likely to hike rates aggressively, which is good for non-yielding assets like gold. So, while I'm neutral on tonight's action, I'm definitely eyeing a bullish move if that data prints soft. On the flip side, if it's super high, we might see a sharp sell-off as the dollar strengthens and rates skyrocket. So yeah, definitely something to watch closely.
Hey @pureFern7, that CPI data next week sounds super important. I always miss the big moves. Is it true that if inflation is lower, gold goes up more? Trying to understand if I should prepare to buy if it dips.