$BTC
$PAXG
US CPI | Is support for gold over?
Annual inflation of 3.4% matches expectations, but the monthly Core CPI is 0.3% versus the expected 0.2%, with Core yearly at 2.4%.
The picture now:
Strong NFP + Strong ISM + High PPI + Core CPI higher month-over-month
⬆️ More pressure on the Fed
⬆️ Dollar and yields
⬇️ Pressure on gold and BTC
But the COT shows a different picture, partly:
Managed Money is still net Long by +136,771 contracts as of September 1, despite a decline in net positions by about 5.5%.
This means speculators reduced part of their positions, but without a clear bearish reversal.
So support for gold hasn’t “ended,” but the short-term environment has become harder for gold.
After CPI, market bets increased on a rate hike at the September 16 meeting, making gold’s reaction to DXY and yields more important than the CPI reading alone.
That’s why I don’t prefer chasing the first move; waiting for price confirmation at support and resistance is more important.
Gold or dollar?
For discussion, not financial advice.
$BZ
#تريث #إبق_هادئا #لا_تتسرع
$PAXG
US CPI | Is support for gold over?
Annual inflation of 3.4% matches expectations, but the monthly Core CPI is 0.3% versus the expected 0.2%, with Core yearly at 2.4%.
The picture now:
Strong NFP + Strong ISM + High PPI + Core CPI higher month-over-month
⬆️ More pressure on the Fed
⬆️ Dollar and yields
⬇️ Pressure on gold and BTC
But the COT shows a different picture, partly:
Managed Money is still net Long by +136,771 contracts as of September 1, despite a decline in net positions by about 5.5%.
This means speculators reduced part of their positions, but without a clear bearish reversal.
So support for gold hasn’t “ended,” but the short-term environment has become harder for gold.
After CPI, market bets increased on a rate hike at the September 16 meeting, making gold’s reaction to DXY and yields more important than the CPI reading alone.
That’s why I don’t prefer chasing the first move; waiting for price confirmation at support and resistance is more important.
Gold or dollar?
For discussion, not financial advice.
$BZ
#تريث #إبق_هادئا #لا_تتسرع