XAUUSD Outlook: Strong Recovery and Key Levels to WatchHello everyone, what do you think about XAUUSD?
Yesterday, XAUUSD continued its impressive recovery, with the precious metal trading at a high of 3644 USD.
This strong price surge from around 3,580 to nearly 3,660 was mainly driven by global economic uncertainty, especially the expectation that the Fed will cut interest rates by the end of 2025, which is fueling gold demand as a safe haven.
This week, the market will focus on signals from the Fed as well as important upcoming economic data, especially the Consumer Price Index (CPI) and Producer Price Index (PPI), to gain further insights into the interest rate outlook and its impact on the gold market.
I remain optimistic about gold’s prospects, with my analysis targeting resistance levels at 3,670 - 3675 and support levels at 3,635 - 3,630. The short-term trend is still skewed to the upside.
Good luck!
