GOLD (CPI + Geopolitical = Strong Movement)

GOLD New Forecast
If inflation proves to be stickier than expected, interest rates could remain elevated for a longer period, posing a challenge for non-interest-bearing bullion. While gold has recently found support due to haven demand amid geopolitical tensions in the Middle East, its vulnerability increases as these tensions ease, leaving it susceptible to pressure from rising rate expectations.

Technical Analysis of Gold:

The GOLD market is expected to be highly volatile due to the upcoming CPI release and the current geopolitical situation.

Today, our primary focus should be on the CPI rates. Currently, the price is likely to attempt to reach 2379, driven by bullish momentum ahead of the CPI release and Geopolitical situations.
Generally, if the CPI result comes in below 3.4%, it will likely support a bullish trend, pushing the price towards 2388 and 2397.

Conversely, if the CPI is at or above 3.4%, it will likely trigger a bearish trend, causing the price to drop from the 2379 resistance level to 2357 and then to 2344.

Pivot Price: 2369
Resistance Levels: 2379, 2388, 2397
Support Levels: 2357, 2344, 2327

Today's anticipated trading range is between the support level at 2344 and the resistance level at 2397.

Given the current high pressure on the U.S. economy, we expect the CPI to be around 3.4% or 3.5%, as efforts to stabilize economic data and control inflation continue this year.