Gold Technical Analysis- 09.08.2023 / CPI & PPI

Gold was bought narrowly in the Asian session on Wednesday and took some of the previous day’s losses to begin trading at four-week lows of $1923–1922. XAU/USD is currently trading below $1930, up almost 0.20% on the day, but the upside is still unclear.  Overall weakness in the stock market, coupled with a slight devaluation of the US dollar (USD), has become a major support for gold prices. China’s weak employment data…