XAU/USD 13/07: Gold rises when the dollar falls

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XAUUSD The yellow metal posted its best intraday gain in more than two months on Wednesday, tracking the decline in the dollar and Treasury yields after data showed consumer price index inflation ( US CPI) rose less than expected in June.

Shows that the Fed's aggressive rate hikes over the past year have paid off and the bank may be easing its hawkish stance sooner than anticipated. The dollar's decline - which fell to a near 15-month low after the CPI reading - has been a big boon for gold.

Looking at the H4 chart, the candle is above the EMA, so the uptrend will continue to around 1970$, right here Nova expects a beautiful sell signal. Let's wait and see what can happen

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