Gold's Dilemma: No Light at the End of the Tunnel

The latest release of the U.S. Consumer Price Index (CPI) did not bring any significant surprises to the market, keeping investors in a state of wait-and-see. This scenario has been challenging for gold, which had sought to react after breaking technical resistance above $4,200, but still faces key levels of resistance. The situation between the U.S. and Iran remains crucial, as regional diplomatic developments can significantly influence the movements of precious metals. However, the pressure from still-high interest rates may limit gold's upward potential in the medium term. The next step for buyers will be to attempt to surpass the 100-day moving average, currently at $4,387, and advance to test the 200-day moving average, valued at $4,501. Success of this strategy will depend not only on technical actions but also on improvements in regional relations and future U.S. economic data.