Gold Daily | Spot Gold Rebounds Above $3300/oz Ahead of US CPI Data, Eyes on Resistance Targets
Generated by AI AgentAinvest Market Brief
Wednesday, Jun 11, 2025 8:01 am ET1min read
【Latest Gold Price and Recent Trends】
Spot gold continues a rebound, quoted around $3336/oz, maintaining above $3300/oz supported by upcoming US CPI data. The latest price indicates short-term buying interest despite prior declines.
【Technical Analysis】
Gold price finds robust support around $3297/oz, marked by the 21-day SMA and Fibonacci retracement. RSI near 54 suggests bullish potential. Resistance targets include $3350/oz and further $3377/oz. An upward breach could test May's high of $3439/oz.
【Market Sentiment and Economic Background】
Anticipation builds over US May CPI data, impacting Fed's interest rate decisions. High CPI could weaken rate cut expectations, boosting USD and impacting gold negatively. Conversely, lower inflation could reinforce gold buying with predictions of Fed rate cuts. Trade headlines and US bond auctions also influence gold's response.
【Analyst Opinions】
Analysts suggest gold has long-term potential despite short-term technical pressure. Geopolitical uncertainties and inflation expectations bolster demand. Gold’s non-yield properties attract investors amid uncertain market conditions. Wells FargoWFC-- predicts further price increases by 2026 due to geopolitical conflicts.
Spot gold continues a rebound, quoted around $3336/oz, maintaining above $3300/oz supported by upcoming US CPI data. The latest price indicates short-term buying interest despite prior declines.
【Technical Analysis】
Gold price finds robust support around $3297/oz, marked by the 21-day SMA and Fibonacci retracement. RSI near 54 suggests bullish potential. Resistance targets include $3350/oz and further $3377/oz. An upward breach could test May's high of $3439/oz.
【Market Sentiment and Economic Background】
Anticipation builds over US May CPI data, impacting Fed's interest rate decisions. High CPI could weaken rate cut expectations, boosting USD and impacting gold negatively. Conversely, lower inflation could reinforce gold buying with predictions of Fed rate cuts. Trade headlines and US bond auctions also influence gold's response.
【Analyst Opinions】
Analysts suggest gold has long-term potential despite short-term technical pressure. Geopolitical uncertainties and inflation expectations bolster demand. Gold’s non-yield properties attract investors amid uncertain market conditions. Wells FargoWFC-- predicts further price increases by 2026 due to geopolitical conflicts.
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PROEditorial Disclosure & AI Transparency: Ainvest News utilizes advanced Large Language Model (LLM) technology to synthesize and analyze real-time market data. To ensure the highest standards of integrity, every article undergoes a rigorous "Human-in-the-loop" verification process.
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