đĄ Gold slides toward $4,100; silver drops nearly 6% after hot CPI
Gold settled at $4,104.50 (-1.34%)âstill above $4,100âwhile silver fell to $55.51 (-5.99%). September CPI came in hotter than expected: headline inflation rose 0.6% m/m and 3.7% y/y; core was 0.3% m/m and 2.6% y/y. Yields moved toward 5.27%, the dollar firmed, and October Fed hike odds climbed to around 40%. The Nasdaq fell 1.9%, while oil remained elevated amid Hormuz and Houthi-related risks.
Levels to watch :
đ„Gold: Support $4,072â$4,066, then $4,004. Resistance $4,114, then $4,134â$4,142.
đ„Silver: Support $55.27â$55.00. Resistance $56.00, then $56.55â$57.64.
PPI, retail sales and jobless claims are up next. Softer data could ease yield pressure; another hot reading may keep metals capped. After a sharp sell-off, Iâd wait for the data reaction and confirmation at these levels rather than chase.
đžCash is a position. NFA.
TRADE $XAU - $XAG HEREđ
Gold settled at $4,104.50 (-1.34%)âstill above $4,100âwhile silver fell to $55.51 (-5.99%). September CPI came in hotter than expected: headline inflation rose 0.6% m/m and 3.7% y/y; core was 0.3% m/m and 2.6% y/y. Yields moved toward 5.27%, the dollar firmed, and October Fed hike odds climbed to around 40%. The Nasdaq fell 1.9%, while oil remained elevated amid Hormuz and Houthi-related risks.
Levels to watch :
đ„Gold: Support $4,072â$4,066, then $4,004. Resistance $4,114, then $4,134â$4,142.
đ„Silver: Support $55.27â$55.00. Resistance $56.00, then $56.55â$57.64.
PPI, retail sales and jobless claims are up next. Softer data could ease yield pressure; another hot reading may keep metals capped. After a sharp sell-off, Iâd wait for the data reaction and confirmation at these levels rather than chase.
đžCash is a position. NFA.
TRADE $XAU - $XAG HEREđ