Gold Technical Analysis – All eyes on the US inflation figures ...Middle East

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Gold Technical Analysis – All eyes on the US inflation figures
Fundamental OverviewLast Thursday, gold broke out of the recent range following the weak US jobless claims figures where initial claims spiked to the highest level since August 2023. Now, jobless claims are notoriously volatile, so that could have been just a blip, but the weak consumer sentiment report on Friday could be another supporting signal for economic weakness ahead although the data might have been skewed more by inflation worries. Overall, in the short term it wasn’t a real gamechanger and the next move will likely be set by the US CPI report due on Wednesday where hot data might send gold prices lower while soft figures should provide a boost. Gold Technical Analysis – Daily Time

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