25.01.16 GOLD will test new high before Z zone

Hello traders,

The data released by the U.S. Department of Labor shows that the unadjusted CPI in the U.S. rose by 2.9% year-on-year in December 2024, matching expectations, and up from 2.7% previously. The seasonally adjusted CPI increased by 0.4% month-on-month in December 2024, compared to an expected rise of 0.3% and a previous value of 0.3%.

The seasonally adjusted core CPI rose by 0.2% month-on-month in December 2024, in line with expectations, while the previous value was 0.3%. The unadjusted core CPI rose by 3.2% year-on-year in December 2024, slightly below the expected 3.3% and the previous value of 3.3%.

This indeed reflects a somewhat weak CPI data, helping Biden conclude his term with favorable numbers.

On 4H chart, GOLD has reached TP1 (last high), n could run a Z zone before reach TP2-TP4.

On daily chart, gold still running above EMAs.
This means the long uptrend could be really long time. Traders who has not in the trend now still have chances to join later.

GOOD LUCK!
LESS IS MORE!