Gold Rebounds Slightly; CPI Determines Direction
Gold recovered slightly on Thursday after two consecutive bearish candles, driven by profit-taking ahead of the US CPI (September) release and a easing of President Donald Trump's trade rhetoric against China. Prices briefly touched an intraday high of $4,154 before correcting, finally settling around $4,108 (+0.2%).
Sentiment improved, but not enough to solidly break above $4,100. Geopolitical trends remain volatile: Trump announced new sanctions on Russia—targeting Lukoil and Rosneft—while the White House is reportedly preparing to restrict China's access to software produced by US companies in response to rare earth metal export controls and port fees for US-flagged vessels.
Despite Tuesday's steepest daily decline in five years, gold is still up 57% year-to-date. Market focus is now on Friday's CPI, with consensus headline readings of 3.1% YoY and core readings of 3.1% YoY—data that will guide Fed expectations and, in turn, the direction of the dollar and yields. Monitored range: $4,000 (support) – $4,154 (intraday resistance).
Source: Newsmaker.id
