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Gold Rewrites Records Above $4,600, CPI Set to Decide Next Move

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Aayush Jindal

Key Highlights

  • Gold started a fresh surge and traded to a new all-time high above $4,600.
  • It cleared a key contracting triangle with resistance at $4,480 on the 4-hour chart.
  • WTI Crude Oil prices are still struggling to recover above $60.00.
  • The US CPI could increase 2.7% in Dec 2025 (YoY).

Gold Price Technical Analysis

Gold prices started a fresh rally above $4,450 and $4,500 against the US Dollar. It settled above $4,500 and gained momentum for a new uptrend.

The 4-hour chart of XAU/USD indicates that the price cleared a key contracting triangle with resistance at $4,480. The bulls took control and pushed the price to a new all-time high above $4,610. The price tested the 1.236 Fib extension level of the last downside correction from the $4,549 swing high to the $4,275 low.

On the upside, immediate resistance is near the $4,615 level. The next major resistance sits near the $4,650 level. A clear move above $4,650 could open the doors for more upside. In the stated case, the bulls could aim for a move toward $4,720. It coincides with the 1.618 Fib extension level.

If there is a pullback, Gold might find bids near the $4,550 level. The first major support sits at $4,520, below which the price might slide to $4,500.

The main support sits at $4,480. Any more losses might call for a test of the 100 Simple Moving Average (red, 4 hours) at $4,420 or even the 200 Simple Moving Average (green, 4 hours) at $4,320.

Looking at WTI Crude Oil, the price started a recovery wave, but it continues to face heavy resistance near the $60.00 hurdle.

Economic Releases to Watch Today

  • US Consumer Price Index for Dec 2025 (MoM) – Forecast +0.3%, versus +0.3% previous.
  • US Consumer Price Index for Dec 2025 (YoY) – Forecast +2.7%, versus +2.7% previous.
  • US Consumer Price Index Ex Food & Energy for Dec 2025 (YoY) – Forecast +2.7%, versus +2.6% previous.
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