Gold Price Forecast: Why Did Gold Rebound After September PPI Rose by Most in Nearly Four Years? - TradingKey

AI desk brief

Gold rebounded to around $4,185/oz in Europe, recovering from a pullback to near $4,073 as U.S. Treasury yields slipped below 5.1% and the dollar weakened. The article says September PPI (+1.3% m/m, +6.3% y/y) and retail sales (+0.8% m/m) were hotter than expected, but markets did not materially raise near-term Fed hike odds, leaving real-rate and FX support dominant for bullion.

Technically, gold has repaired its short-term bullish structure and printed a bullish engulfing pattern. Key support is cited at $4,150, with upside resistance at $4,200 and $4,230; a loss of $4,150 reopens downside toward $4,100 and the recent low near $4,066, while a deeper break could retest $4,000.