XAUUSD Gold Bearish Trend Outlook
Gold remains in a bearish trend, with technical weakness confirmed as support was tested on Friday. The metal continues to trade under pressure, driven by investor caution ahead of the upcoming U.S. Core PCE Index — a key inflation gauge.
If the data comes in higher than expected, it could delay Federal Reserve rate cut expectations, further weighing on gold prices. However, if the Core PCE data disappoints to the downside, rate cut hopes in July may resurface, providing a potential support base for gold.
Key Levels to Watch:
Immediate Support: 3365
Major Support Zone: 3350
Resistance: 3295 / 3305
Keep Eye on all data share your idea about this analysis we need support from you Guys.
Gold remains in a bearish trend, with technical weakness confirmed as support was tested on Friday. The metal continues to trade under pressure, driven by investor caution ahead of the upcoming U.S. Core PCE Index — a key inflation gauge.
If the data comes in higher than expected, it could delay Federal Reserve rate cut expectations, further weighing on gold prices. However, if the Core PCE data disappoints to the downside, rate cut hopes in July may resurface, providing a potential support base for gold.
Key Levels to Watch:
Immediate Support: 3365
Major Support Zone: 3350
Resistance: 3295 / 3305
Keep Eye on all data share your idea about this analysis we need support from you Guys.
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.