Gold saw a sharp sell-off after U.S. CPI data came in hotter than expected, plunging nearly $40 to $3,327/oz in just a few hours. While this aggressive move sparked fears of a breakdown, price is now holding firm above a major H4 Fair Value Gap – a key support zone that has triggered multiple reversals in the past.
If buyers manage to defend this level, a swift rebound toward $3,375–$3,400 could be in play – especially as the dollar shows signs of cooling off after its CPI-fueled rally. However, should $3,320 give way, a deeper correction toward $3,280 becomes highly probable – and that’s when true panic may begin.
If buyers manage to defend this level, a swift rebound toward $3,375–$3,400 could be in play – especially as the dollar shows signs of cooling off after its CPI-fueled rally. However, should $3,320 give way, a deeper correction toward $3,280 becomes highly probable – and that’s when true panic may begin.
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