GOLD MORNING MARKET REVIEW
XAU/USD
Gold prices are recovering after a systematic decline at the beginning of the week, when quotes returned to local lows from July 10. At the moment, the XAU/USD pair is testing 1930.00, receiving support from Chinese macroeconomic statistics: an increase in the Consumer Price Index by 0.2% was recorded in July after reducing by the same amount last month, although analysts' forecasts suggested a decrease by 0.1%, and in annual terms there was a correction of -0.3%, which is only 0.1% better than market forecasts. The day before, investors, on the contrary, were disappointed by weak statistics from China on the dynamics of Exports and Imports. Exports in July fell by 14.5% year on year after -12.4% last month, although analysts expected a value of -12.5%, while Imports lost 12.4% after falling by 6.8% earlier: the real dynamics turned out to be worse than forecasts by more than two times.
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