Gold spiked sharply following a cooler-than-expected U.S. PPI for June, signaling easing inflationary pressures at the producer level. This immediately triggered a pullback in the dollar and yields, reigniting flows into precious metals.
On the H2 chart, gold rebounded strongly from the $3,325 support area, filling a Fair Value Gap and climbing past $3,340. Bullish momentum is building, as rising volume around $3,330 reflects growing demand.
Meanwhile, dovish signals from Europe have caused significant EUR volatility, indirectly weighing on the U.S. Dollar Index and reinforcing gold's upside bias. If gold holds above $3,325, a test of $3,360–$3,378 looks increasingly likely in the short term.
Gold is no longer just reacting to data—it’s getting ahead of expectations. Are you?
On the H2 chart, gold rebounded strongly from the $3,325 support area, filling a Fair Value Gap and climbing past $3,340. Bullish momentum is building, as rising volume around $3,330 reflects growing demand.
Meanwhile, dovish signals from Europe have caused significant EUR volatility, indirectly weighing on the U.S. Dollar Index and reinforcing gold's upside bias. If gold holds above $3,325, a test of $3,360–$3,378 looks increasingly likely in the short term.
Gold is no longer just reacting to data—it’s getting ahead of expectations. Are you?
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Disclaimer
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