XAUUSD returning to the trend following news (inflation). The northbound train may continue from 2907. Upcoming unemployment claims and PPI data.Gold is supported by uncertainty surrounding Trump's tariffs and economic data from the United States. The Fed remains hawkish due to rising inflation, pushing bond yields higher and driving prices down to $2,865 briefly. However, buyers quickly returned, pushing prices back up.
Meanwhile, traders are awaiting PPI data which could influence Fed policy.
Technically, prices are consolidating in the buying zone compared to key points at 2900 and 2907. If buyers can hold and strengthen above the 2907 resistance level, gold could update ATH in the medium term. Additionally, focus is on 2918 - 2920. Price consolidation above this zone will also support prices.
Best regards,
Bentradegold!
Trade closed: target reached
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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.