XAUUSD

Recently, a downward movement was observed in gold prices, but statements from the White House regarding ongoing threats to trade agreements have led to a recovery. Higher-than-expected inflation in the U.S. could bring back expectations of interest rate hikes, which may deepen selling pressure on gold prices. This scenario could lead to tests of support levels at 3333.85 and 3304.31 if prices fall below 3351.22. Positive U.S. data could create short-term pressure on gold prices. On the other hand, inflation that falls below expectations or weak retail sales/employment data could allow gold prices to test the resistance band of 3380.77–3398.13.