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