Gold Prices Expected to Bull Post-CPI on August 14, 2024, Following a Pre-Event Collection Phase

 

As the U.S. Consumer Price Index (CPI) report looms on August 14, 2024, gold prices are anticipated to experience a bullish trend. However, prior to this upward movement, a collection phase is expected, where investors consolidate positions in anticipation of the CPI data. This phase typically sees short-term price fluctuations, providing a potential entry point before the anticipated bullish surge following the CPI release. Investors should monitor the market closely, as gold's response to economic indicators like CPI often signals broader trends in market sentiment.