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macroJun 10, 2026, 9:20 AM

Gold Breaches 200-Day SMA; US CPI Report Could Decide Next Move

Gold has broken below its 200-day moving average, a bearish technical signal. Traders now await the US CPI report, which could either trigger a rebound toward $4,450 or deepen the decline.

XAUUSD

Gold prices have breached the key 200-day simple moving average (SMA), flashing a major sell signal. The break below this widely watched technical level suggests near-term downside momentum.

However, the outlook is not set in stone. The upcoming US Consumer Price Index (CPI) report could reverse the current bearish setup. A favorable inflation print might propel gold back toward $4,450, while an unfavorable reading could push prices into deeper correction territory.

Traders should proceed with caution as the market awaits this pivotal data point.

Source: FXStreet Forex News