Since the Federal Reserve began increasing interest rates, gold prices have continued to climb.
Inflation worries continue to rise. The Federal Reserve has increased interest rates to battle the ever-rising CPI (Consumer Price Index), which reached an all-time high of almost 9 percent in June. This boosted Consumer Prices to the highest values since late 1979. Recent weakening in food and energy costs has aided in moderating the CPI, whose last report stood at 8.5% in July. Gold prices (GLD) once again found significant support near $157. On a 9-day RSI measure, shares approached oversold levels before rising. (GLD) Gold is trading well below its 20-day moving average.