Gold Pulls Back Though Support May be at HandGold FuturesCOMEX_DL:GC1!StoneXTradingWe saw gold perform a solid bounce from its 200-day EMA on Wednesday and Thursday. Above-average volume suggests it was accompanied with bullish initiation as opposed to just short covering. While prices are retracing for a second day, volumes have dropped to suggest this is part of a minor retracement against that original 2-day bounce. With the 50 and 20-day EMAs nearby for potential support, my short-term bias remains bullish while prices hold above Wednesday's low. 4600 is a potential upside target. Keep in mind we have US PPI and CPI data on Thursday and Friday. If they come in hot and rekindle bets of Fed hikes, gold could struggle. MS