Today's Economic Updates 📊

GOLD was up on Friday morning after testing the low level of $ 2013 in the last trading session as gold is set to decline for the second straight week as traders scaled back bets on early interest rate cuts from the US Federal Reserve. Latest data showed that US consumer prices rose 3.4% annually and 0.3% monthly in December, exceeding forecasts of 3.2% and 0.2%, respectively.

*The subdued dollar lent some support, while an escalating Middle East conflict spurred safe-haven demand for the metal. A US-led coalition launched multiple attacks on Houthi targets in Yemen as the rebel group continued to disrupt trade in the Red Sea.*

Right now GOLD is trading around $ 2035. If it sustains above the level of 2040 then it can test the level of 2045, 2050 & 2062 as well. On the other side if it comes below the level of 2030 then it can retest the level of 2025, 2020 & 2013 as well.

CRUDE OIL was up on Friday morning after testing the low level of $ 71.16 in the last trading session as WTI crude futures jumped more than 2% toward $74 per barrel on Friday, extending gains from the previous session as a deepening geopolitical crisis in the Middle East put a risk premium on oil prices. On Thursday, *reported that Iran has captured an oil tanker off the coast of Oman in response to a sanctions-related dispute last year when the US seized an Iranian tanker.*

Right now CRUDE OIL is trading around $ 73.50. If it sustains above the level of 74 then it can test the level of 74.50, 75 & 76 as well. On the other side if it comes below the level of 73 then it can retest the level of 72.50, 72 & 71 as well.

*DOW JONES was up on Friday morning after testing the low level of 37628 in the last trading session as the Dow inched up 0.04%, Those moves came as the latest CPI report showed that the headline inflation exceeded expectations, rising to 3.4%. Right now DOW JONES is trading around 37898. If it sustains above the level of 37950 then it can test the level of 38000, 38050 & 38100 as well. On the other side if it comes below the level of 37850 then it can retest the level of 37800, 37750 & 37700 as well.*

*GBP:- GDP m/m*
ACTUAL = 0.3%
FORECAST = 0.2%
PREVIOUS = -0.3%
POSITIVE FOR GBP

US-UK now bombing Yemen-OFFICIAL

⚡️🇾🇪🇺🇸"U.S. ATTACKS YEMEN LIVE UPDATES: Yemeni cities face US and UK-led aggression as blinding explosions hit country’s capital Sanaa"

"Further unconfirmed reports say US Navy ships in Red Sea already under attack by Yemeni rebels."

*USD:- Core PPI m/m*
ACTUAL = 0.0%
FORECAST = 0.2%
PREVIOUS = 0.0%
NEGATIVE FOR USD AND POSITIVE FOR GOLD
-------------------------
*USD:- PPI m/m*
ACTUAL = -0.1%
FORECAST = 0.1%
PREVIOUS = 0.0%
NEGATIVE FOR USD AND POSITIVE FOR GOLD

December PPI inflation RISES to 1.0%, below expectations of 1.3%.

Core PPI inflation fell to 1.8%, below expectations of 1.9%.

Both CPI and PPI inflation are back on the rise, but PPI came in below expectations.

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Gold sell now@ 2055-2058

StopLoss point : 2059

Take Profit 1 :2053
Take Profit 2 :2050
Take Profit 3 :2047

Use proper risk management for your account size 💥

*DAILY COMEX UPDATE* -

*XAUUSD*-
R1-2060,R2-2065,R3-2075
S1-2050,S2-2045,S3 -2035

*SILVER* -
R1-23.40,R2-23.55,R3-23.70
S1-23.10,S2-22.95,S3-22.80

*CRUDE OIL*-
R1-73.00,R2-73.50,R3- 74.00
S1-72.50,S2-72.00,S3- 71.00

*TODAY'S IMPORTANT DATA:-*
*WEF Annual Meetings @ Day-1*

CAD:- BOC Business Outlook Survey @ 9:00 P. M. IST.

*USD:- Bank Holiday-US banks will be closed in observance of Martin Luther King Jr. Day.*

GOLD was up on Monday morning after testing the low level of $ 2013 in the last weekly trading session as escalating tensions in the Middle East drove safe-haven demand for the metals, while a surprise decline in US producer inflation data bolstered bets for an early interest rate cut from the Federal Reserve.

Right now GOLD is trading around $ 2055. If it sustains above the level of 2060 then it can test the level of 2065, 2070 & 2080 as well. On the other side if it comes below the level of 2050 then it can retest the level of 2045, 2040 & 2030 as well.

‼️January 16, 2024‼️
🗓 Calendar for today
🇬🇧 Claimant Count Change - 07:00 GMT
🇬🇧 Unemployment Rate - 07:00 GMT
🇩🇪 ZEW Economic Sentiment Index - 10:00 GMT
🇨🇦 Inflation Rate YoY - 13:30 GMT

GOLD was down on Tuesday morning after testing the high level of $ 2058 in the last trading session as mixed U.S. inflation readings also saw traders largely maintain their bets that the Fed could begin cutting interest rates by as soon as March 2024, which kept the dollar subdued and spurred some flows into rate-sensitive assets.

Right now GOLD is trading around $ 2050. If it sustains above the level of 2055 then it can test the level of 2060, 2065 & 2075 as well. On the other side if it comes below the level of 2045 then it can retest the level of 2040, 2035 & 2025 as well.

CRUDE OIL was up Tuesday morning after testing the low level of $ 71.22 in the last trading session as WTI crude futures steadied above $72 per barrel on Tuesday as investors weighed escalating tensions in the Middle East against a highly uncertain global demand outlook. Houthi militants hit a US-owned commercial vessel with an anti-ship ballistic missile on Monday.

Right now CRUDE OIL is trading around $ 72.50. If it sustains above the level of 73 then it can test the level of 73.50, 74 & 75 as well. On the other side if it comes below the level of 72 then it can retest the level of 71.50, 71 & 70 as well.

GOLD BUY ZONE (2049-2047)

TP1: 2050.5
TP2: 2053

STOP LOSS: 2045

DM now for more information @Elena_ross_trader