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12.08.2026 11:45 AM
GOLD: Slower US Inflation to Support Gold Prices

Spot gold continues to receive support from stabilizing crude oil prices and reduced expectations of a Federal Reserve interest rate hike at the September meeting. If today's consumer inflation report shows that inflation continues to slow, gold prices are expected to resume their rise.

From a technical perspective, it is trading below the strong resistance level of 4430.

Technical Picture and Trading Idea:

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The price is above the middle line of the Bollinger Bands and above the SMA 5 and SMA 14. The RSI is above 50 and moving sideways. The Stochastic is rising and is above 50.

Consolidation of the gold price above 4430 would open the way for further growth toward 4494.50. The 44326.15 level could serve as an entry point for a long position. SL: 4346.47.

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