POG-Buy signalTime Stamp
Prices as of 9:20 a.m. EDT 10 February 2022 $1,829.50 (Basis the April 2022 Comex Contract).
Recommendation: Buy
Initial Target Price / Range: $1,840 or higher
Initial Timeframe: 10 February 2022 to 18 February 2022
U.S. CPI figures released this morning were stronger than the market expected. This is positive for gold. Prices have been swinging wildly between $1,822 and $1,839 since the release of the U.S. CPI report and were in the middle of this range at the time of this writing.
Bond yields have risen in response to the strong inflation numbers. This will act as a headwind to gold prices. That said, since yields are rising in response to higher inflation the negative impact on gold will be lesser than what is usually felt. After the initial decline to $1,822, the market has been holding up failrly well at the $1,829 level. Investors should look buy at these levels, with a initial price objective of $1,840. Price have the potential to rise further, with $1,845 and $1,850 as next targets.