Highlights
• U.S. CPI came in below expectations, weakening the U.S. dollar and providing short-term support for gold.
• Ongoing U.S.–Iran tensions continue to fuel market speculation, leading to unusually volatile price action in gold.
• Tonight's key focus will be the U.S. PPI report and Fed Chair Kevin Warsh's speech. These two events could reshape expectations for the Fed's next policy move and trigger significant volatility in the gold market.
📌 Trading Plan
Resistance: 4060–4070 | 4090–4100
Support: 4015–4025 | 3990–4000 | 3960
Extended Support: 3942 | 3920
📌 Personal View
✅ Softer-than-expected CPI has provided momentum for gold's recovery.
✅ However, the broader downtrend remains intact, as price is still trading below the descending channel.
✅ Watch price reaction carefully at key resistance levels before making trading decisions.
✅ Tonight's PPI data and Fed Chair Kevin Warsh's remarks could generate significant volatility. Avoid chasing the market and wait for confirmation after the news.
📌 What do you think?
Will the PPI report and Fed Chair's speech help gold break out of the downtrend, or is this simply a relief rally before the bearish trend resumes?
• U.S. CPI came in below expectations, weakening the U.S. dollar and providing short-term support for gold.
• Ongoing U.S.–Iran tensions continue to fuel market speculation, leading to unusually volatile price action in gold.
• Tonight's key focus will be the U.S. PPI report and Fed Chair Kevin Warsh's speech. These two events could reshape expectations for the Fed's next policy move and trigger significant volatility in the gold market.
📌 Trading Plan
Resistance: 4060–4070 | 4090–4100
Support: 4015–4025 | 3990–4000 | 3960
Extended Support: 3942 | 3920
📌 Personal View
✅ Softer-than-expected CPI has provided momentum for gold's recovery.
✅ However, the broader downtrend remains intact, as price is still trading below the descending channel.
✅ Watch price reaction carefully at key resistance levels before making trading decisions.
✅ Tonight's PPI data and Fed Chair Kevin Warsh's remarks could generate significant volatility. Avoid chasing the market and wait for confirmation after the news.
📌 What do you think?
Will the PPI report and Fed Chair's speech help gold break out of the downtrend, or is this simply a relief rally before the bearish trend resumes?
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