Gold Slides to Week’s Lowest on Inflation Data and Fed Comments

Gold's decline to its lowest level of the week confirms short-term selling pressure on GLD. Although the RSI at 33.8 is approaching oversold territory, no reversal signal has yet emerged; the MACD remains below its signal line and is trending negative. While price holding above the SMA20 and SMA50 averages provides support in the medium term, short-term momentum is weak. Uncertainty surrounding Fed statements and inflation data could increase volatility. In the 1-3 day outlook, the downward bias stands out, though oversold conditions may limit sharp declines.

Although the news is presented through gold, the headline emphasizes inflation and Fed statements; such a tone generally signals that interest rate expectations remain upward, thus creating a mildly supportive environment for DXY. DXY is already above 103.00 and has risen 0.71% in 24 hours, trading above SMA20 and SMA50; the trend is positive in the short term. However, RSI14 at 76.97 is in overbought territory and MACD is below the signal line, indicating that the upward move may be tiring. Therefore, while I keep the direction upward, I maintain medium confidence; whether the 103.00 level is held as support will be critical. In the short term, a limited positive bias or consolidation should be expected rather than a sharp rise.