Gold extends the range play below $4,600 and record high as traders await US CPI report

💡 DMK Insight

Gold’s struggle to break above $4,600 is a critical moment for traders. The recent all-time peak indicates strong bullish sentiment, but the inability to sustain above this level raises questions. Traders should be cautious; a failure to reclaim this threshold could trigger profit-taking and a pullback. Keep an eye on broader economic indicators, especially inflation data and interest rate decisions, as these will influence gold’s trajectory. If gold drops below key support levels, it could signal a shift in market sentiment, potentially impacting related assets like silver and precious metal ETFs. Watch for volatility around upcoming economic reports, as they could provide the catalyst needed for gold to either break out or retreat. The next few sessions will be crucial in determining whether this recent peak is a launching pad or a false summit.