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Gold maintained a bullish structure during the first hour, but after rejection near 4,831, the price is falling inside a small bearish channel.
The real factor today is the US Consumer Price Index, which will be released on April 10 at 8:30 AM ET. Recent forecasts suggest that inflation could be hotter, largely due to oil shocks, meaning CPI could be the driver of the next big move in the dollar and gold.
Market evaluation
The main trend is still up
The current move still looks like a correction rather than a clear reversal
4,718 close to support
4,673 is the main buying area
trading plan
If it maintains 4,718
→ Gold could rebound to 4,831
If the price breaks above 4,673 and the reaction is strong
→ This is probably the cleanest setup to continue
If the CPI high breaks through 4673
→ The upward structure weakens and downward pressure may expand.
SeeMMFLOW
This is not the place to watch prices ahead of news.
A smarter strategy would be to let CPI establish momentum and then trade on a reaction from support or confirmation of a retracement of 4,831 points.
Today’s Trend: Bullish correction, also above 4,673 – but CPI is the real catalyst.
