Gold prices maintained upward momentum after breaching 3345 last Friday. Yesterday’s session saw repeated thrusts toward 3375, though resistance held firm, triggering a pullback during U.S. hours to 3341. We assess this movement as corrective rather than trend-reversing. The market shows no signs of peaking; after this short-term dip, a secondary rally is anticipated.

With the overnight low anchored near 3341, bullish defenses now hover just below this threshold. Asian and European sessions may witness consolidation with upward bias, guarded by the 3341 support. Market focus shifts to U.S. CPI data later today. Monday’s repeated tests of the 3375 peak make this level critical for Tuesday – a decisive breakout could propel prices higher, while failure invites bearish adjustments.

For intraday strategy, expect range-bound rebounds above 3341 during Asian/European trading. A sustained break below 3341 would signal weakening momentum, warranting long position exits. Absent such breakdown, maintain bullish exposure. A confirmed hold above 3360 revives prospects of challenging 3375. Trade setup: Enter longs at 3346 with 3340 stop-loss, targeting 3360. Upon securing 3360, trail stop-loss to hourly swing lows for 3375 pursuit.