Will Gold Price Fall Below $4,000 Amid Renewed Economic Risks? - beincrypto.com

AI desk brief

Gold is testing the neckline of a daily head-and-shoulders pattern near $4,347 after Thursday’s hotter-than-expected PPI and a jump in the 10-year Treasury yield to 4.95% pushed prices below $4,400. Traders are now focused on Friday’s August CPI print: a confirmed break of the neckline would project toward $3,950, while a reclaim of $4,560 would invalidate the bearish setup.

The macro backdrop is turning less supportive, with markets pricing a 67.1% chance of a Fed hike next week, Brent above $105 on Iran-related escalation, and a firm dollar adding to rate pressure. Offset against that, August gold ETF inflows totaled $18 billion and central banks bought 288.9 tonnes in Q2, underscoring that physical and official-sector demand remains strong even as the chart points lower.