Inflation data is about to be released. Can gold break through 4600?
Tonight, the US CPI will be announced, a number that influences the nerves of global financial markets. Especially for the crypto community, macro inflation expectations directly impact Federal Reserve policy directions, thereby affecting the entire asset allocation.
Core CPI is the main focus this time—it excludes the "noise" of food and energy, which is the real inflation indicator the Fed watches. The current expectation remains at 2.7%, but recent trends suggest that many analysts believe it could be lower than expected. If there is a mild decline, the probability of a rate cut in June will significantly increase, which would be the best catalyst for bullish gold traders.
On the technical side, gold's daytime movement is quite tangled, oscillating within the support zone of 4560-4575. Whether it can hold steady is crucial. If it does, there is room to push up to the 4600 level. After breaking through, there is resistance at 4625, and some institutions even have more aggressive views, believing it could reach a new high of 4800.
So the question is—will this CPI data be a "booster" or a "trap" for gold? What do you think, will core inflation fall below 2.7%? Can gold really rally from 4600 all the way to 4800?
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GateUser-c799715c
· 5h ago
If core inflation can truly stay below 2.7%, that would be interesting. In that case, the easing expectations would cause a frenzy in the gold bulls. However, I am more optimistic about the reaction in the crypto space, after all, only when easing expectations rise will Bitcoin truly take off.
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AirdropAutomaton
· 6h ago
The probability of core CPI being below expectations is not small, but gold at 4800 is still too optimistic. It's easy to get trapped if you enter the market now.
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StableCoinKaren
· 6h ago
Oh no, inflation data again. Every time they say it's going to cause a market explosion, but nothing actually happens.
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DAOdreamer
· 6h ago
Once the CPI data is released, it will either surge or plummet. As for gold, this round still seems to depend on the Federal Reserve's stance, but 4800 might be a bit optimistic, haha.
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DarkPoolWatcher
· 6h ago
CPI is here. The key is whether the interest rate cut expectations will materialize this time. Whether gold can hold the 4600 level depends on whether the Federal Reserve buys into this move.
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Inflation data is about to be released. Can gold break through 4600?
Tonight, the US CPI will be announced, a number that influences the nerves of global financial markets. Especially for the crypto community, macro inflation expectations directly impact Federal Reserve policy directions, thereby affecting the entire asset allocation.
Core CPI is the main focus this time—it excludes the "noise" of food and energy, which is the real inflation indicator the Fed watches. The current expectation remains at 2.7%, but recent trends suggest that many analysts believe it could be lower than expected. If there is a mild decline, the probability of a rate cut in June will significantly increase, which would be the best catalyst for bullish gold traders.
On the technical side, gold's daytime movement is quite tangled, oscillating within the support zone of 4560-4575. Whether it can hold steady is crucial. If it does, there is room to push up to the 4600 level. After breaking through, there is resistance at 4625, and some institutions even have more aggressive views, believing it could reach a new high of 4800.
So the question is—will this CPI data be a "booster" or a "trap" for gold? What do you think, will core inflation fall below 2.7%? Can gold really rally from 4600 all the way to 4800?