Gold Price Forecast: XAU/USD Tests $4,227 as CPI Could Decide the Next Fed Move - FXLeaders

AI desk brief

Gold is holding around $4,207 after rebounding from $4,070, with near-term support from a weaker U.S. dollar and softer oil prices. The key breakout level is $4,227; a clean break opens $4,298, while loss of $4,179/$4,170 risks a pullback toward $4,110.

Macro-wise, the article frames Wednesday’s CPI as the decisive input for the next Fed move: markets assign a 17% chance of an October hike and an 86% chance of at least one hike by December. It also cites strong structural demand, including September global physically backed gold ETF inflows of $10bn/67t to a record 4,256t, and China’s PBoC buying for a 23rd straight month, up 740,000oz in September.