Besides the geopolitical developments surrounding the Iranian situation and the Russia-Ukraine war, which are of great interest to market participants, this week they are also closely watching the releases of key data reflecting inflation and the economy, including the US September Consumer Price Index, the latest Federal Reserve Beige Book report, the September Producer Price Index, and September retail sales. Therefore, the desire to buy gold in the short term may not be particularly strong, and gold prices may encounter significant resistance around $4,248.

Gold prices may fluctuate between $4,151 and $4,248 in the short term. It is advisable to pay close attention to potential entry opportunities at the lower end of this range. There is room for short-term rebounds, and $4,131 can serve as an important price support level. Appropriate risk management is essential.

Risk Warning: This article is for market analysis purposes only. Price ranges and levels mentioned are for market observation and do not constitute investment advice. Precious metal prices are highly volatile; please make independent and prudent decisions and manage your own risk.

Gold price chart (1 hour):

Ferris Kwok

Chief Analyst
Success Finance Group

Email: ferris.kwok@successfn.com