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December 14, 2021

Gold Weakens Noticeably Ahead of U.S. PPI Data, $8+ Volatility Likely in Gold; Dec 14, 2021

U.S. PPI & Core PPI Results

Today U.S. has scheduled to release PPI and Core PPI results at 1330 GMT/1900 IST. It’s a leading indicator of consumer inflation – when producers charge more for goods and services the higher costs are usually passed on to the consumer. Food and energy prices make up about 40% of overall PPI which tends to mute the importance of the Core data.

Let’s See how Gold has reacted during the previous data release:

Nov 09:

Oct 14:

Technical View:

XAU/USD (Gold):

The Gold trades noticeably lower in early U.S. Session and trading around key support at $1,782 mark.
Today pair made intraday high at $1,789 and low at $1,782 mark.
A day chart is down and H1 chart with triple EMA suggests up trend for the time being.
A sustained close above $1,789 on H1 chart requires for the upside rally.
Alternatively, a consistent close below $1,778 will check further supports.

SUPPORTS	RESISTANCES
$1,778	$1,789
$1,772	$1,794
$1,767	$1,799
$1,764	$1,804
$1,757	$1,809

Take a look and do trade wisely!
Good Luck

TP Global FX Research Team

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