Gold might bounce in the near future in a primarily technical move as the price emerges from oversold and appetite to push lower appears to be limited.
The primary narrative for the potential move is the continuing likelihood that the Fed will hold its funds rate at the current 5.25-5.5% at its next meeting in slightly less than a month.
However, the reaction to American inflation is very important: if the data are surprising, this idea could be invalidated.
Michael is a financial content manager at Exness. He's been investing for around the last 15 years and trading CFDs for about the last nine. He favors consideration of both fundamental analysis and TA where possible.
