Gold Price Forecast: XAU/USD Holds $4,148 Ahead of CPI as $4,216 Breakout Looms - FXLeaders

AI desk brief

Gold (XAU/USD) is holding around $4,161 ahead of the U.S. September CPI release, with traders focused on whether inflation data re-prices October Fed expectations and pushes yields/USD higher or lower. Near-term technical levels are $4,148 support and $4,216 resistance; a clear break above $4,216 opens $4,272, while a loss of $4,148 keeps $4,114/$4,068 in play.

The article leans neutral to slightly bullish while gold remains above support, but warns that still-elevated Treasury yields are the main structural headwind. Offseting that, record physically backed ETF inflows added 67t in September to a record 4,256t, Q3 inflows hit $31bn, and China’s PBOC extended its gold-buying streak to 23 months, reinforcing strategic demand.