Key U.S. Indicators to keep in mind while Trading in gold during U.S. session; June 30, 2022

Key U.S. Indicators to keep in mind while Trading in gold during U.S. session

Today U.S. has scheduled to release U.S. Core PCE Price Index data, Personal Income & spending data and Unemployment Claims weekly data at 1230 GMT/1800 IST. In addition U.S. Chicago PMI data is scheduled at 1345 GMT/1915 IST.

Core PCE Price Index is the Federal Reserve’s primary inflation measure. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate. It differs from Core CPI in that it only measures goods and services targeted towards and consumed by individuals. On the other end, Chicago PMI data is derived via a survey of around 200 purchasing managers in Chicago which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

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

May Results:

April Results:

Technical View:

XAU/USD (Gold):

  • Gold trades marginally lower on Thursday and hovers around $1,810 mark.
  • The pair made intraday high at $1,822 and Low at $1,810 mark.
  • A day chart and H1 chart with triple EMA suggest bearish trend for the time being.
  • A sustained close above $1,822 on H1 chart requires for the upside rally.
  • Alternatively, a consistent close below $1,807 on H1 chart will test further supports.
$1,806 $1,822
$1,801 $1,828
$1,796 $1,832
$1,791 $1,838
$1,786 $1,842


Take a look and do trade wisely!
Good Luck