The New York market is open! Gold is currently trading in a narrow range at elevated levels!
It has successfully held the 4,100–4,106 range and is now continuing to test the 4,125–4,130 level. If it manages to hold above 4,130, the New York market will attempt a further upward recovery to retest last week’s highs in the 4,145–4,148 range. With no major economic data releases today, it will be difficult to break through this level!
If gold faces frequent resistance near 4,130 and the U.S. Dollar Index strengthens, the price may pull back to the 4,100–4,092 range to regroup. My recommendation is to maintain a buy-biased strategy! Tuesday’s CPI data release is expected to push prices toward $4,200!
#XAUUSD #CPI
It has successfully held the 4,100–4,106 range and is now continuing to test the 4,125–4,130 level. If it manages to hold above 4,130, the New York market will attempt a further upward recovery to retest last week’s highs in the 4,145–4,148 range. With no major economic data releases today, it will be difficult to break through this level!
If gold faces frequent resistance near 4,130 and the U.S. Dollar Index strengthens, the price may pull back to the 4,100–4,092 range to regroup. My recommendation is to maintain a buy-biased strategy! Tuesday’s CPI data release is expected to push prices toward $4,200!
#XAUUSD #CPI
