XAU/USD struggles to hold gains above $4,387 after US inflation data met expectations without surprising markets.
Gold prices retreated after testing the $4,449 level earlier today, settling near $4,375 as US CPI data failed to provide a catalyst. The report aligned with forecasts, leaving traders to refocus on broader market drivers, including geopolitical tensions and bond yields.
The metal briefly broke above $4,200 in early August, gaining momentum to challenge its 100-day moving average at $4,387. However, buyers have struggled to sustain a breakout, despite renewed bids in Asian trading today. US-Iran developments remain a key factor for further upside.
Bond yields holding at elevated levels may limit gold’s advance in the near term, particularly as the market awaits clearer signals from geopolitical or economic shifts. Without a fresh catalyst, technical resistance at $4,387 could cap further gains.