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Gold’s broader trend remains bullish, with the $3,000 level as a critical psychological target. Strong safe-haven demand, driven by escalating U.S. trade tensions and persistent inflation risks, supports further gains. Next week, traders will focus on the core Personal Consumption Expenditures (PCE) deflator, with economists expecting a 0.3% increase.
Additional key reports include U.S. consumer confidence on Tuesday and new home sales on Wednesday, which could influence market sentiment and the Federal Reserve’s policy stance. If the PCE data confirms elevated inflation pressures, it could reinforce gold’s appeal as a hedge against rising prices and economic uncertainty. Given the current macroeconomic backdrop, gold is well-positioned for continued upside as investors seek stability and inflation protection.
Technically, the main trend is up. A trade through $2954.96 will signal a resumption of the uptrend. The trend will change to down on a move through $2536.85, but this is highly unlikely. Nonetheless, if profit-taking persists this week, it could lead to a pullback into the 50% level at $2745.91 over the near-term.
More Information in our Economic Calendar.
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