Last week, the international 
XAUUSD increased sharply, from 2,880 USD/oz to 3,005 USD/oz. Then, profit-taking pressure caused the gold price to drop to 2,978 USD/oz and closed the week at 2,986 USD/oz.
The reason for the sharp increase in gold prices in recent days is that US inflation figures (CPI, PPI) have decreased more sharply than expected, raising expectations that the FED will cut interest rates twice more this year.
In addition, concerns about US public debt have increased as the US Congress is unlikely to pass the Budget Bill, putting the US government at risk of a shutdown.
The FED meeting next week will play an important role in shaping expectations about the FED's interest rate policy. This could be the main driver for gold prices next week, given the inverse correlation between gold and the USD.
However, in recent comments, the FED Chairman has remained cautious about inflationary pressures due to concerns that the Trump administration's tariff policies will fuel inflation in the medium and long term. Therefore, it is possible that the FED Chairman will continue to maintain interest rates at current levels in the next meetings. If so, this will be a shock to gold prices next week, causing gold prices to fall next week.
🕹SOME DATA THAT MAY AFFECT GOLD PRICES NEXT WEEK:
This week is shaping up to be a volatile one for gold, with markets digesting a number of key economic releases.
Central banks continue to dominate the calendar, with the Bank of Japan announcing its interest rate decision on Tuesday, followed by the Federal Reserve on Wednesday and the Swiss National Bank and Bank of England on Thursday.
There are also a number of key US economic data releases, including Retail Sales and the Empire State Manufacturing Index on Monday, Housing Starts and Building Permits on Tuesday. On Thursday, markets will be watching the weekly Unemployment Report, Existing Home Sales and the Philadelphia Fed Manufacturing Survey.
📌Technically, in the short-term perspective on the H1 chart, gold prices next week may maintain their upward momentum to find the 161.8 fibo level around 3035. Or they may temporarily reduce and adjust around the Trendline at 2915.
Notable technical levels are listed below.
Support: 2,977 – 2,956 USD
Resistance: 3,000 – 3,021 USD
SELL XAUUSD PRICE 3036 - 3034⚡️
↠↠ Stoploss 3040
BUY XAUUSD PRICE 2914 - 2916⚡️
↠↠ Stoploss 2910
XAUUSD increased sharply, from 2,880 USD/oz to 3,005 USD/oz. Then, profit-taking pressure caused the gold price to drop to 2,978 USD/oz and closed the week at 2,986 USD/oz. The reason for the sharp increase in gold prices in recent days is that US inflation figures (CPI, PPI) have decreased more sharply than expected, raising expectations that the FED will cut interest rates twice more this year.
In addition, concerns about US public debt have increased as the US Congress is unlikely to pass the Budget Bill, putting the US government at risk of a shutdown.
The FED meeting next week will play an important role in shaping expectations about the FED's interest rate policy. This could be the main driver for gold prices next week, given the inverse correlation between gold and the USD.
However, in recent comments, the FED Chairman has remained cautious about inflationary pressures due to concerns that the Trump administration's tariff policies will fuel inflation in the medium and long term. Therefore, it is possible that the FED Chairman will continue to maintain interest rates at current levels in the next meetings. If so, this will be a shock to gold prices next week, causing gold prices to fall next week.
🕹SOME DATA THAT MAY AFFECT GOLD PRICES NEXT WEEK:
This week is shaping up to be a volatile one for gold, with markets digesting a number of key economic releases.
Central banks continue to dominate the calendar, with the Bank of Japan announcing its interest rate decision on Tuesday, followed by the Federal Reserve on Wednesday and the Swiss National Bank and Bank of England on Thursday.
There are also a number of key US economic data releases, including Retail Sales and the Empire State Manufacturing Index on Monday, Housing Starts and Building Permits on Tuesday. On Thursday, markets will be watching the weekly Unemployment Report, Existing Home Sales and the Philadelphia Fed Manufacturing Survey.
📌Technically, in the short-term perspective on the H1 chart, gold prices next week may maintain their upward momentum to find the 161.8 fibo level around 3035. Or they may temporarily reduce and adjust around the Trendline at 2915.
Notable technical levels are listed below.
Support: 2,977 – 2,956 USD
Resistance: 3,000 – 3,021 USD
SELL XAUUSD PRICE 3036 - 3034⚡️
↠↠ Stoploss 3040
BUY XAUUSD PRICE 2914 - 2916⚡️
↠↠ Stoploss 2910
Note
⚫Last week, gold prices hit a record $3,004.82 an ounce due to safe-haven demand from Trump's trade war and geopolitical tensions.Note
⚫The market is waiting for the Fed's move, as the possibility of a rate cut could continue to push gold prices higher.Note
Trade closed: target reached
Plan SEL HIT TP1 +100pips. Heading to TP2 😵😵😵Note
💡Gold Price Hits Record High of 33055.56/OZ Due to Geopolitical Tensions
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🔰| Forex trading
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
🧩Get an average of 1200 pips per month
🧩Consulting on Risk Management
🧩Account management
🧩Forex signals have a high win rate
🚨🚨🚨FREE SIGNALS: t.me/+8q3AxDD9CsRjYzI1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.