Canada CPI in Focus as Gold Trades Near Critical Levels

The US Dollar recovered slightly during today’s Asian session after yesterday’s losses. This happened even after Donald Trump paused a possible attack on Iran to allow more negotiations. His comments increased hopes that a deal on Iran’s nuclear program could still happen.

Markets are now focused on Canada’s April CPI data. Inflation is expected to rise, and if the numbers come in higher than expected, the Canadian Dollar could strengthen. Stronger inflation may also push the Bank of Canada to remain hawkish.

US stock markets gave mixed signals yesterday. The Dow Jones moved higher, the S&P 500 stayed flat, while the Nasdaq closed slightly lower.

Markets are still reacting to Middle East tensions, AI optimism, and inflation concerns. After the strong rally in stocks, investors now appear more cautious and are waiting for clearer direction.

Gold prices moved slightly higher as the weaker US Dollar supported demand. However, gains remain limited because rising bond yields continue to pressure gold. Markets still expect the Federal Reserve to keep interest rates higher for longer.

Oil prices were initially stable after Trump’s comments but later moved higher again. This shows the oil market is still not fully convinced that a diplomatic solution will happen. If tensions rise further, oil prices may continue climbing.

XAU/USDT 4H Outlook

Gold remains weak on the 4H chart after failing to break above the 4700–4760 resistance zone. Price has dropped back near the important 4500 support area, where buyers are trying to defend the market.

Support: 4504 → 4425 → 4155

Resistance: 4619 → 4655 → 4759 → 4867

Momentum indicators are slowly recovering from oversold levels, showing selling pressure is weakening. However, buyers still need stronger momentum for a clear bullish reversal.

If price stays above 4500 and breaks 4619, the next targets may be 4655 and 4759.

If 4500 breaks, price could fall toward 4425 and possibly 4155 later.

Overall, the short-term trend remains slightly bearish unless gold moves back above the main resistance zone.

#TrumpDelaysIranStrike
$XAUT ‌