Gold remains subdued as geopolitical risks in the Middle East drive risk-off flows and boost oil prices, increasing hawkish rate hike bets. Despite this, gold has yet to break decisively from its recent range, with traders eyeing the US CPI release for direction. Technically, gold is testing critical resistance on daily and intraday charts, where sellers dominate near trendlines, while buyers await a breakout to push higher. The forthcoming FOMC minutes could offer further insight into the Fed’s policy stance, potentially influencing gold’s trajectory amid a delicate balance between inflation fears and tightening monetary policy.