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YPby u/yan_p·5dAnalysis

Gold — Watching 2380-2400 for next move

XAUUSD is hovering right around that 2380-2400 zone, which has been pretty sticky. On the daily, we're seeing some consolidation after that strong move up. If it can break convincingly above 2400 and hold, I'd be looking for a potential retest of those recent highs around 2450. The risk to that view is a sustained drop below 2370. Below that, 2350 comes into play quickly, and a deeper pullback becomes more likely. Seems like the market is digesting recent gains, and a catalyst for the next leg, up or down, is needed.

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1 Comments

SUu/suthidawattana·5d

I'm largely aligned with that analysis. The consolidation around 2380-2400 is indeed critical. What are your thoughts on the impact of upcoming CPI data on gold's ability to break or hold this range?

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