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Gold Eyes A Comeback—Can US CPI Fuel The Rebound?

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Aayush Jindal

Key Highlights

  • Gold found support near $4,065 and started a recovery wave.
  • A bearish trend line is forming with resistance at $4,225 on the 4-hour chart.
  • WTI Crude Oil started a consolidation phase above the $91.20 support.
  • Bitcoin price saw a couple of swing moves from the $84,500 pivot level.

Gold Price Technical Analysis

Gold remained well-bid above $4,050 against the US Dollar. The price formed a base and started a recovery wave above $4,120.

The 4-hour chart of XAU/USD indicates that the price surpassed the $4,200 level but remained below the 100 Simple Moving Average (red, 4 hours) and the 200 Simple Moving Average (green, 4 hours). There is also a bearish trend line forming with resistance at $4,225.

A close above the trend line resistance and the 100 Simple Moving Average (red, 4 hours) could fuel a fresh increase. The first key resistance could be $4,260.

The main resistance might be near the 200 Simple Moving Average (green, 4 hours) at $4,320. A clear move above $4,320 could open the door for more upside. In the stated case, the bulls could aim for a move toward $4,500.

If there is a fresh decline, the price could test $4,120. The first major support sits at $4,065. The next support could be $4,050, below which the price might slide to $3,965.

Looking at WTI Crude Oil, the bulls are showing strength, but a close above $94.50 could only open the doors for a recovery wave.

Economic Releases to Watch Today

  • US Consumer Price Index for Sep 2026 (MoM) – Forecast +0.6%, versus +0.4% previous.
  • US Consumer Price Index for Sep 2026 (YoY) – Forecast +3.6%, versus +3.4% previous.
  • US Consumer Price Index Ex Food & Energy for Sep 2026 (YoY) – Forecast +2.5%, versus +2.4% previous.
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