Gold Price Forecast: US CPI Fuels 50bps Fed Hike Fears - Equiti Global

AI desk brief

• Gold recovered toward $4,050 after falling almost 3%. The source attributes selling to above-forecast October CPI and Waller’s openness to a December 50bp hike; CME probabilities put that scenario near 13%, still secondary to 25bp.
• Reported Q3 central-bank purchases of 321 tonnes and October ETF additions of 19 tonnes, lifting holdings to 4,275 tonnes, could cushion losses. The source argues renewed upside needs clearer evidence that December ends tightening.
• Its technical scenario requires a break above $4,065 and sustained trading above $4,085 to target $4,125–$4,145. A clear break below $4,020 would undermine the rebound and expose $4,000; failure there opens $3,960.