Gold Price Forecast: Hot CPI and Waller Remarks Keep Pressure on XAUUSD - FXEmpire

AI desk brief

• Gold fell 1% ahead of CPI; the source attributes selling to hawkish Waller remarks. Monthly headline/core CPI rose 0.4%/0.3% versus 0.3%/0.2% expected. Treasury yields and the dollar rose; further dollar strength could pressure gold.
• The analyst remains cautiously bullish if buyers defend $4009.51–$3976.66, potentially forming a higher bottom. Trading through $4148.71 resumes the main uptrend; clearing the $4186.04 moving average and $4197.46 could target $4283.72–$4381.28.
• Breaking $3976.66 would signal weakness, not a trend reversal, and could expose $3870.32; taking out that bottom turns the main trend down. Friday’s PPI and month-end PCE are the next inflation catalysts cited; hot inflation could constrain further gains.