Gold Price Forecast: Bulls Defend 200-Day EMA After Hot CPI - FXEmpire

AI desk brief

Gold rebounded from its 200-day EMA after a hotter-than-expected CPI print, with the market now seen consolidating around $4,371.29 as traders brace for a Fed hike next week. Bulls are defending the 200-day EMA for now, but the chart remains choppy and range-bound.

Near-term resistance is flagged at $4,500, then $4,700, while a break back below the 200-day EMA would turn the tone negative. The piece implies metals are likely to remain sideways unless macro data or Fed expectations shift materially.