commodities

Gold's $90 CPI Surge: The Rally, the Resistance, and the Hormuz Watch

Published July 15, 20262 min read

Close-up of a stack of shining gold bars resting on a metal shelf inside what appears to be a dimly lit vault. — Gold's luster shines bright after a CPI surge. Illustration: MarketIntelLabs

Gold jumped $90 in Tuesday's session to reach $4,091/oz, the largest single-day move in three weeks, after the June CPI report came in at -0.4% month-over-month: well below the -0.1% consensus and the biggest monthly decline since April 2020. The move was fast, it was mechanical, and it has a ceiling.

Key Takeaways June CPI printed -0.4% MoM on July 14, driven by a 9.7% collapse in gasoline prices, compressing September Fed rate-hike odds and pushing gold up $90 to $4,091/oz intraday. Gold is trading near $4,039/oz as of July 15, pulling back from Tuesday's spike, with support at $3,900-$3,950 and resistance at $4,200. The $90 rally still leaves gold 27.8% below its January 29, 2026 high of $…

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