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.
$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