$XAU Gold is currently facing some resistance around 4,150, even if it manages to hold above that level.
Let’s see whether tonight’s CPI data can give it a boost.
If it breaks through, the next resistance will be at 4,200–4,220. I think it needs to break above that resistance to have a chance of opening up more upside.
With expectations for a December rate hike fluctuating, once the CPI data is released, will market pricing for a December hike (currently above 80%) strengthen further or ease slightly? This will directly affect the direction of the U.S. dollar and real interest rates, and is the key factor determining whether gold faces continued pressure or gets some relief in the medium term.
Let’s see whether tonight’s CPI data can give it a boost.
If it breaks through, the next resistance will be at 4,200–4,220. I think it needs to break above that resistance to have a chance of opening up more upside.
With expectations for a December rate hike fluctuating, once the CPI data is released, will market pricing for a December hike (currently above 80%) strengthen further or ease slightly? This will directly affect the direction of the U.S. dollar and real interest rates, and is the key factor determining whether gold faces continued pressure or gets some relief in the medium term.
