Gold price zones to watch on January 15

Gold is trading within the 2683 and 2662 range. Gold needs more action to break out of this range. 2697 and 2646 are the focus points when the price breaks out of the narrow range. The uptrend is still stable, so we are leaning towards BUY signals for today.

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Gold price turns positive for the second straight day amid softer USD; US CPI in focus
Gold price reverses an intraday dip to the $2,669 area and turns positive for the second straight day on Wednesday, though the upside seems limited ahead of the US CPI report. The US Dollar hangs near the weekly low touched in reaction to the softer US PPI on Tuesday and turns out to be a key factor lending support to the commodity.

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