CPI target not met, rate cut unlikely; Gold Soars.

CPI prints were revealed yesterday by the FED and while economists almost predicted correctly, a 0.1% miss on the monthly reporting for CPI means that CPI year on year just popped back up to 3.5%. With the FED target for inflation at 2%, the US is a long way from meeting this goal. 

 

Gold and Silver continue enjoying their current Bull Run, with Silver now pushing ever closer to $US30. Gold sitting high at $US2372. With both precious metals showing strong price growth in the previous weeks, we could see a slight pullback (dependent on World news) before more ongoing strength.

 

And the Gaza conflict continues to grab headlines, as Iran looks to be pulled into retaliating against Israel's recent attack on its militant leaders. As more information comes to light regarding how Iran will respond, we anticipate bullion to keep following its upward trajectory.

 

The ASX200 and the SP500 experienced a choppy week, ending up exactly where they were last week with a lot of volatility. Oil also saw a jump up this week as conflict continues to dominate the news.

 

Enjoy today‚Äôs charts and forecast. 

  

Gold daily chart, with 200MDA

 

 

Silver daily chart, with 200MDA


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 US500, with 200MDA


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ASX200, with 200MDA