XAUUSD

image

XAUUSD

The gold market will focus on data coming from the US economy this week. Powell's speech on Tuesday could be decisive for gold prices. Especially if the Non-Farm Payroll data to be announced on Thursday comes in below expectations (120K expected vs 139K previous), gold prices could move upward with the possibility of the unemployment rate rising to 4.3%. The decrease in liquidity in the markets and the search for safe havens before the US Independence Day holiday on July 4th could also support gold demand. Additionally, the Manufacturing PMI data from China remaining at 49.7, which is in the contraction zone, could increase global growth concerns and sustain interest in gold.

Support :

3169.65 - 3199.99 - 3230.32

Resistance :

3333.20 - 3351.66 - 3382.00