Gold Technical Analysis – Eyes on the US CPI report ...Middle East

Fundamental OverviewGold continues to consolidate in a tight range as the markets await the US CPI report due on Wednesday. Overall, nothing has changed in terms of the fundamentals. The Fed is expected to cut by 25 bps next week and deliver at least two more rate cuts in 2025. In the bigger picture, the trend should remain bullish amid the Fed’s easing cycle, but the short-term corrections will likely be triggered by the repricing in rate cuts expectations. For now, the market looks fine with three rate cuts by the end of 2025 as the pricing remained unchanged despite lots of strong US data. The US CPI report is going to be a major event for gold. Higher than expected figures will likely tr

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