$XAU
The US September CPI year-on-year is 3.7%, and the core CPI year-on-year is 2.6%,
both exceeding expectations,
the market is once again betting on the Fed raising interest rates or maintaining high rates for 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 to see 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 rise,
gold stocks will remain under pressure in the short term.
So, there is no rush to bottom-fish now.
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