Gold prices are currently in a consolidation phase, awaiting the boost from pre-London and London trading volumes. Despite my personal inclination towards selling today, I remain open to the market's direction. Should the price break above the consolidation, a retest of the previous high may be on the horizon. Conversely, if the price breaches below the consolidation, I'll be entering sell positions and holding a portion of my position.
Turning to fundamentals, today brings crucial data releases: Core CPI and a Bond auction. While the CPI forecast mirrors previous figures, a positive outcome could potentially drive gold prices downwards.
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Analysis