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Gold has support levels established ahead of upcoming CPI data. James Stanley, senior strategist at DailyFX, described $4,000 as an important level for the metal, noting that the locations and timing of potential buyers will be important for gauging sentiment. He also pointed to $4,067 and $4,021 as nearby levels.
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Stanley previously noted spot gold's resilience, highlighting its approach to the longest streak without a weekly close under $4,000, with market attention focused on the FOMC meeting at the time. In an earlier commentary, he identified sellers near $4,200 and pointed to $4,235 as a level needed to trigger further movement in the metal. For more, see his overview of spot gold’s weekly performance and analysis of consolidation near $4,200.