GOLD (XAUUSD)

The gold price has slightly recovered from the previous session's losses. Technically, the immediate outlook is neutral to slightly bullish now, as it seems the metal is correcting the losses.

Key Indicators

• The $4,270/60 support zone is crucial for the upcoming sessions held early this week. The zone represents a significant support level for this week.

• Short covering is visible, reducing downside pressure.

Fundamental Context

Some of the key data points expected to dictate this week's gold price movements include the US CPI and PPI data. Meanwhile, geopolitical developments in the Middle East and inflation concerns continue to be the main factors influencing market activity this week.