$XAU
US September CPI year-on-year 3.7%, core year-on-year 2.6%,
both exceeding expectations,
the market is re-betting that the Fed rate hikes or high interest rates will last longer.
Gold was directly hammered,
spot price fell from around 4150 to below 4100,
In the short term (1-2 weeks),
it may fluctuate weakly,
watch if the $4000 level can hold
At the $4000 level, most institutions believe this is strong support,
central bank buying and ETF funds will step in here.
But if the US dollar and US Treasury yields continue to strengthen,
there may be a short-term dip below before pulling back.
More attention should be paid to the Fed meeting on October 28: if CPI exceeds expectations causing rate hike expectations to heat up,
gold stocks will remain under pressure in the short term.
So, no rush to bottom fish now.
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