GOLD | CPI Data in Focus – Key Levels at 3347 and 3318

GOLD | OVERVIEW

Gold remains under pressure due to ongoing U.S.–China trade tensions, with additional focus on the upcoming U.S. CPI data, which is expected to have a strong market impact.

Forecast CPI: 2.5%
Previous CPI: 2.3%

Current Scenario:
If the CPI comes in above 2.5%, it would signal stronger inflation, reducing the likelihood of rate cuts. This would pressure gold lower, continuing the downtrend toward 3318, then 3303, and possibly 3292.

Alternative Scenario:
If CPI is below expectations, it would suggest easing inflation and open the door for rate cuts—supportive for gold. In that case, a break above 3347 could lead to 3366, and then 3375.

Support Levels: 3318, 3303, 3292
Resistance Levels: 3347, 3366, 3375