Gold Price Outlook Hinges on Break Above $4,350
The September 25 futures chart for Gold shows a price of $4,320.5, down from its high of $4,422.1 and above its low of $4,278.3. The price remains below both the daily VC PMI mean near $4,321 and the weekly mean near $4,350.
A sustained recovery above both means would improve the outlook, but rejection there keeps the daily buy zone in focus.
The VC PMI levels indicate Daily Buy 1 at $4,289, with Daily Buy 2 near $4,258. Weekly support sits at $4,259 and $4,196, while the chart labels Daily Sell 2 at $4,352 and Daily Sell 1 at $4,384.
The Federal Reserve raised its target rate range by 25 basis points to 3.75%, 4.00% on September 16, citing elevated inflation. Higher yields and a firmer dollar can pressure gold, while inflation concerns and geopolitical uncertainty can support demand.