British News Agency

Yesterday, the inflation data for the United States was announced, one of the most important economic data of the week. According to the data, inflation in the United States exceeded expectations. Annual inflation stood at 3.1 percent, while monthly it was 0.3 percent. These data led to significant volatility in global markets. While expectations for the start of interest rate cuts by the Federal Reserve increased, the expectations for the first cut in June were postponed to July. The price of gold before the data was released was around 2029 levels, and after the data, it sharply fell and reached 1990 levels. Gold price for the new day started from 1992 levels. Economic data predicts a weak day. Markets will closely monitor global events. From a technical standpoint, resistance levels can be identified on the XAUUSD chart at 2015, 2035, and 2064, while support levels are tracked at 1980, 1965, and 1953.

Source: Info Investment