Gold has been losing ground for 4 days, shedding a total of 1.42% of its value. Similar trend today: Gold is down to $2,029.5 per ounce, after ending yesterday at $2,033.2. Overall, a 0.18% loss or $3.7 today.
United States EIA Short-Term Energy Outlook is next today at 16:00 UTC.
Gold's upper Bollinger Band® is at $2,050.29 which indicates a further downward move may follow.
In the short term, CME Gold is expected to maintain its recent downtrend and continue spiralling lower.
In the meantime, negative performances are also seen in other Metals as Copper slides down 0.99% to trade around $3.89. Platinum withdraws 0.57% to trade around $1,081.5.
Moreover, United States Crude Oil Inventories projected to decline to -1.6 million while previous data was -1.28 million; data will be released tomorrow at 14:30 UTC.
Furthermore, United States Consumer Price Index figure is projected at 0.4%. It previously stood at 0.1%; data will be released tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC.
CME Gold has fallen back around 1.24% over the past 5 days, from a notable high of $2,058.7.