$XAU Holds Firm After Soft PPI, Bulls Eye $4,104

U.S. PPI surprised to the downside at -0.3% MoM vs 0.0% expected, reinforcing yesterday's cooler CPI print and easing inflation concerns. That combination keeps expectations for a more dovish Fed alive, providing a supportive backdrop for gold.

From the chart, buyers defended the 4,034 support zone perfectly. As long as price holds above this level, the recovery toward 4,074 and 4,104 remains in play. A clean breakout above 4,104 could open the door for another leg higher.

Bullish bias stays intact while support holds

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