Last night, the CPI data was released unchanged, remaining at 2.7%. Immediately after that, gold prices were supported and rebounded back to the peak area of 4634 USD/ounce.
Inflation remaining unchanged shows that although inflation has not yet returned to the 2.0% target, at least it is no longer increasing. This is an extremely positive signal for the roadmap of interest rate cuts in 2026.
Therefore, gold prices are strongly supported in the short term and are currently trading steadily above the 46xx level.
As a result, in the short term, there are very few factors that could cause a sharp decline in gold prices. At this time, it is advisable to only look for small corrective moves of around 20–30 points and then buy again, while limiting sell positions during this period.
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