The latest U.S. CPI print failed to spark any significant move in gold, with prices holding in a tight range near 3,347.
On the 30-minute chart, the last several candles show clear compression with alternating wicks both above and below, indicating indecision and order flow balance.
That spark could come from monetary policy signals. In a Fox Business interview, Treasury Secretary Scott Bessent suggested the Federal Reserve could cut interest rates by as much as 50 basis points in September. Expectations for a cut of that size could weaken the U.S. dollar and could provide gold with the momentum needed to break out of its current sideways pattern.
For the exact date and time of these major economic events, import the BlackBull Markets Economic Calendar to receive alerts directly in your email inbox.
Trading involves risk and may not be suitable for all investors. The information provided in this article is for educational purposes only and does not constitute financial advice. Always conduct thorough research and seek professional advice before making any investment decisions.
