Chart of the day: Gold price faces crucial $4,200 breakout test as US CPI looms - investingLive

AI desk brief

Gold is stalling at the key $4,200-$4,220 resistance band, with buyers needing a sustained break above that zone to unlock further upside. On the downside, a slip back below $4,150 would refocus the market on $4,100-$4,117, with $4,000 the next major support if that floor gives way.

The immediate catalyst is the US CPI release: a softer core print could ease Treasury yields and the dollar, giving gold a lift, but the note argues a brief spike through $4,200 would not be enough to confirm a trend reversal. The daily chart still looks cautious, with the 100-day moving average at $4,249 adding another resistance layer.