Summary
- The recent deceleration of the Consumer Price Index still significantly above average, suggests a potential rise in the gold market as investors seek reliable assets to protect wealth.
- The rise in average hourly earnings, often leading to inflation, bolsters the bullish sentiment in the gold market.
- The bullish technical outlook of GLD, with bullish formations, suggests the potential for a higher breakout.
- The downward correction from the resistance of $2,075 offers a lucrative buying opportunity for long-term investors in the gold market.