Gold has been a popular investment for centuries due to its inherent value and unique properties. The price of gold is influenced by various factors, both macroeconomic and global geopolitical events. This document explores two significant factors that impacted gold prices on 13th August 2024: the release of lower US PPI data and the escalating tensions in the Middle East.
Today’s given signal : https://t.me/calendarsignal/14440
Lower US PPI Data
On 13th August 2024, the United States released PPI (Producer Price Index) data, which serves as a measure of inflation at the wholesale level. When PPI data shows a decline in prices, it is generally viewed as a positive signal for the economy. As a result, investors tend to sell off assets perceived as risky, including stocks, and invest in safe havens like gold. The lower PPI data on 13th August 2024 created uncertainty in the markets and triggered a flight to quality, leading to an increase in gold prices.
Escalating Tensions in the Middle East
On the same day, tensions in the Middle East escalated, leading to concerns among investors about political stability and regional security. The Middle East is often a major source of geopolitical risks, and gold prices tend to rise during times of geopolitical uncertainty.
Investors typically view gold as a safe-haven asset, seeking protection during geopolitical turmoil. The escalating tensions in the Middle East created a sense of unease and uncertainty among investors, causing them to seek alternative investments like gold. The demand for gold as a safe-haven investment often drives up its price.
Previous released data results :
On last PPI data (29-9-2023) we predict to SELL XAUUSD as for higher data, GOLD price was decreased.
Check the previous blog : https://blog.forextrade1.co/analyzing-the-relationship-between-us-ppi-data-and-gold-price-today-12-07-2024/
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Performance : https://t.me/calendarsignal/13726
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