US CPI boosts gold, buying low today
The gold market is currently supported by multiple factors, and investors are paying attention to the 4-hour support area below today. After the pullback stabilizes, they will continue to buy long gold.
① The core inflation data in the United States is lower than expected, which is favorable for the gold market.
② The decline of US treasury bond bond yield and US dollar index also provided support for gold price.
③ Geopolitical risks remain a significant factor driving demand for gold.
The crude oil market is currently supported by factors such as inventory reduction, uncertainty of sanctions, global economic growth expectations, and geopolitical situation. Today, investors are paying attention to the 1-hour support zone below crude oil, and will continue to buy long crude oil after the pullback stabilizes.
① The significant reduction in US crude oil inventories is the main factor driving the recent rise in oil prices
② The new round of sanctions imposed by the United States on Russia may disrupt the global oil supply chain and further support oil prices.
③ The US Consumer Price Index (CPI) rose 0.4% month on month in December, providing support for crude oil demand.
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