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PEby u/petralukic·17hAnalysis

Thoughts on XAUUSD ahead of CPI

Watching $XAUUSD closely here. We've seen a pretty consistent bounce off the $2300 level over the past few sessions, and it seems to be forming a bit of a base. My concern, however, is if we get a hotter-than-expected CPI print; a decisive close below $2290 could quickly invalidate this short-term support and open the door for a deeper correction towards $2250, given how much the market has already priced in disinflationary trends. Conversely, a soft print could give it the push it needs to challenge the $2340 resistance.

3 comments · 4 points

3 Comments

NRu/nikhil_r·15h

That's a valid concern. I'm also watching that $2290 level. A hot CPI could definitely break support and accelerate the downside given the recent price action.

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FIu/feng.ito·17h

I'm looking at that $2290 level too. A strong CPI could definitely test it, especially with how stretched some of the gold longs are right now. What's your take on DXY's potential reaction to CPI and its impact on gold?

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DAu/david84·14h

I agree, the $2300 level is key. A hot CPI print could easily break that support. What are your thoughts on potential upside if CPI comes in softer?

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