#gold #firstmininggold #preciousmetals #bullmarket #correction #oversold #bounce #sideways #CPI #FF #FFMG ??

Gold sold off sharply after yesterday’s CPI data, hitting USD 4,073 before recovering to USD 4,161. Hence, short-term technical damage remains limited, but gold is still stuck in the downtrend since late January, with bulls yet to benefit from current oversold conditions. After three weeks of volatile consolidation between USD 4,065 and USD 4,220, we expect the bearish range & price behavior to persist into mid-December, with repeated tests of—and possible breaks below—USD 4,000. Nevertheless, we remain optimistic that a mid-December turning point will drive a strong recovery into spring 2027.

https://floriangrummes.substack.com/p/gold-daily-call-for-october-15th-a6c