Gold Forecast: Support Hold and Price Rally Following CPI Data
Gold exhibited resilience, managing to hold above critical support levels following the recent US CPI data release. Prices dipped briefly below the support at 3335 before recovering towards 3366, indicating strength in the market. The intraday chart suggests that gold has the potential for further advancements toward the target range of 3390-3395, provided it maintains stability above key support levels. This resilience in gold is essential for traders looking for investment opportunities. As bullish sentiment persists, keeping an eye on upcoming economic data releases can provide insight into gold’s next moves.