Gold Price Forecast: XAU/USD Rebounds From $3,852 Ahead of PPI and Weekly Close - FXLeaders

AI desk brief

• Gold rebounded roughly 1% to $3,915 after Thursday’s $3,852 low, but remained down 3.5% for the week. OANDA’s Kelvin Wong attributed the rebound to a positioning adjustment following extremely oversold momentum readings.
• The source links Thursday’s 2.8% decline to Iran tensions, higher oil and rising Treasury yields. It argues that hot October PPI, due at 13:30 GMT, could reinforce expectations of a larger December Fed hike and pressure gold; softer data could extend the bounce.
• The author is cautiously bullish above $3,903.06: a four-hour close above $3,934.31 targets $3,960, then $3,985. A break below $3,852 instead opens $3,820.