Gold Prices Hang by a Thread Ahead of US CPI Report

Gold prices have stabilized at support near the yearly open after a sharp correction from August highs. The September opening range remains intact, and traders are awaiting fresh direction.

The bulls need to reclaim resistance to shift the technical focus back toward the August highs, while losses below slope support would raise the risk of a more significant reversal.

U.S. CPI is due tomorrow, and the Fed decision next week will be crucial in determining whether gold can regain its footing or remains vulnerable to another leg lower.