$2542 XAUUSD Spot Gold All Time High: Who Projected Gold Price High in advance?

XAUUSD reversed from $2542: all time high as projected as selling zone in morning at 10.50 am in our analysis.

CMP $2534 | All Sell Positions Closed

Point to be noted is GOLD reversed from 2542: and same we had projected in morning as selling zone.

Such an accuracy: is impossible anywhere else, generally!

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Gold spikes to a new record high and the US Dollar (USD) weakens following the release of US PPI and Jobless Claims data on Thursday.

The US Producer Price Index (PPI) ex Food & Energy rose by 2.4% in August, the same as the 2.4% registered in July. The result came in below expectations of 2.5%, according to data from the US Bureau of Labor Statistics (BLS).

On the month, core PPI rose 0.3% compared to the downwardly-revised 0.2% decline in July. Economists had expected a 0.2% rise. Headline PPI, meanwhile, rose 1.7% in August after a revised-down 2.1% rise in the previous month. The result was below expectations of 1.8%. On a monthly basis PPI rose 0.2%, which compared to the downwardly revised 0.0% registered in July and was above the 0.1% expected.

US jobs data released at the same time showed Initial Jobless Claims rose 230K in the week ending September 6, coming in above the revised-up 228K of the previous week and was in line with the 230K forecast.

Continuing Jobless Claims rose 1.850M, which was higher than the previous week’s revised-up 1.845M, according to the US Department of Labor.

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