{"id":441839,"date":"2026-11-10T16:40:09","date_gmt":"2026-11-10T09:40:09","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-holds-near-recent-highs-as-markets-await-us-cpi-and-iran-breakthrough-441839\/"},"modified":"2026-11-10T16:40:09","modified_gmt":"2026-11-10T09:40:09","slug":"gold-holds-near-recent-highs-as-markets-await-us-cpi-and-iran-breakthrough","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-holds-near-recent-highs-as-markets-await-us-cpi-and-iran-breakthrough-441839\/","title":{"rendered":"Gold holds near recent highs as markets await US CPI and Iran breakthrough"},"content":{"rendered":"
\n

Gold edged higher
\n yesterday but couldn\u2019t extend the gains above the recent highs as markets
\n continue to wait for concrete US-Iran developments and the US CPI data. \u00a0<\/p>\n

On the US-Iran
\n front, we got some positive headlines yesterday that led to an improvement in
\n risk sentiment as hopes for a deal strengthened again. <\/p>\n

It was reported that
\n meetings between Trump, Vance and the Qatari PM were positive, and they
\n discussed ways to progress talks with Iran.<\/p>\n

Trump said after
\n talks with the Qatari PM that Qatar would rather see a peaceful solution with
\n Iran, but the US is ready for strikes if necessary.<\/p>\n

Moreover, it was
\n reported that the US has allowed a small uranium enrichment inside Iran, which Tehran
\n agreed to, and preliminary agreement on reducing uranium enrichment is likely.<\/p>\n

On the US CPI
\n side, the data today could seal a rate hike for the December FOMC meeting, with
\n traders already pricing in an 84% probability. <\/p>\n

If we get a hot
\n report, we could see a downward spike in gold, but I would expect the losses to
\n be faded. This is because rate hikes at this point should put even more
\n downward pressure on the stock market and long-term Treasury yields amid growth
\n concerns, barring an end to the Iran war. Soft data, on the other hand, should
\n trigger an immediate rally on a dovish repricing. <\/p>\n

Keep in mind that
\n in the current context, if Trump decides to escalate the war, inflation
\n expectations would rise alongside weakening growth outlook, creating a
\n stagflationary environment. This should be bullish for gold. At the same time,
\n if we get a de-escalation, we could see a dovish repricing on easing inflation
\n concerns, which should also support gold in the short-term. <\/p>\n

\u00a0<\/p>\n

GOLD TECHNICAL
\n ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that gold<\/a>(CFD contract) is still consolidating
\n above the broken trendline. The buyers will likely continue to pile in around
\n these levels, with a defined risk below the trendline, to keep targeting new
\n highs. The sellers, on the other hand, will need to see the price breaking
\n below the major upward trendline to open the door for new lows.<\/p>\n

GOLD
\n TECHNICAL ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we have
\n a minor support zone around the 4,040 level. If we get another pullback, we can
\n expect the buyers to step in around the support, with a defined risk below the
\n minor upward trendline, to keep targeting the 4,500 level. The sellers, on the
\n other hand, will look for a break below the upward trendline to extend the
\n pullback into the major trendline next.<\/p>\n

GOLD
\n TECHNICAL ANALYSIS \u2013 1 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, we
\n have another minor upward trendline that could act as support. We can expect
\n the buyers to lean on the trendline, with a defined risk below it, to keep
\n targeting the 4,500 level. The sellers, on the other hand, look for a break
\n lower to extend the pullback into the 4,040 support next. The red lines define
\n the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we have
\n the US CPI report. Tomorrow, we get the latest US Jobless Claims figures. On
\n Friday, we conclude the week with the US PPI data. <\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Gold edged higher yesterday but couldn\u2019t extend the gains above the recent highs as markets continue to wait for concrete US-Iran developments and the US CPI data. \u00a0 On the US-Iran front,…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-441839","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=441839"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441839\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}