XAUUSD Gold saw some profit-taking on Friday, but support remains strong with buying momentum picking up. With Trump’s tariff concerns still weighing on the market and ongoing global economic uncertainties, gold looks set for its next leg up. Central bank demand and inflationary pressures continue to support the bullish sentiment. However, any shift in the macroeconomic landscape or sudden changes in market sentiment could bring downside pressure.
XAUUSD Gold made an extended run toward 2940 today but couldn’t push past it due to optimal exhaustion and profit-taking. Despite the news, volatility kicked in, and gold dipped back below 2900. If today closes under 2900, a break below 2880 is very much on the table, with volume picking up for an extended profit run. If not, we might see some consolidation before the next catalyst-driven leg up. With a relatively quiet week ahead—just the minutes and services data—let’s see how things unfold.