Gold Price Forecast: Tests Support as Dollar Climbs - FXEmpire

AI desk brief

• Spot gold fell to about $4,014 after reaching $4,066.77 Wednesday; December futures traded near $4,022. FXEmpire attributes the weakness to hotter-than-expected CPI, rising Treasury yields and dollar strength, channels that could continue to pressure bullion.
• The analyst’s bearish bias depends on support at $4,009.51–$3,976.66. A sustained move below $3,976.66 could accelerate losses toward $3,870.32; trading through that bottom would turn the main daily trend down.
• A sustained move above $4,009.51 could signal returning buyers; taking out $4,148.71 would signal renewed uptrend. However, the analyst says a strong upside breakout requires buyers to overcome the $4,177.43 50-day average convincingly; otherwise, trade between that average and $3,870.32 could build a sideways base.