Gold (XAU/USD) has successfully broken above the short-term resistance at $3,170, surging toward the $3,200 level after Fed Chair Jerome Powell’s latest remarks. The market reacted positively as Powell avoided any hawkish signals, lifting investor sentiment and pushing safe-haven demand higher.
🧠 Market Sentiment & Fundamental Support
- Powell maintained a neutral tone, offering no hints of further rate hikes. This calmed investor nerves and weakened the U.S. dollar slightly.
- The latest PPI data came in lower than expected, signaling cooling inflation pressure and reducing expectations for tighter Fed policy.
- Traders are shifting away from the fear of additional rate hikes, with some even anticipating policy easing later this year.
🔮 Short-Term Outlook
Given current sentiment and the momentum from Powell’s comments, gold is likely to retest the $3,200 – $3,205 zone in the short term. If bullish pressure continues and no major surprises come from incoming economic data, the $3,220 level could be reached before we see a potential pullback.
📌 Important Note:
- Keep an eye on upcoming U.S. economic releases like unemployment claims and regional manufacturing data to gauge dollar strength.
- If gold fails to break above $3,220 and shows signs of bearish divergence, it may present a short-term profit-taking opportunity or a correction setup.
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🧠 Market Sentiment & Fundamental Support
- Powell maintained a neutral tone, offering no hints of further rate hikes. This calmed investor nerves and weakened the U.S. dollar slightly.
- The latest PPI data came in lower than expected, signaling cooling inflation pressure and reducing expectations for tighter Fed policy.
- Traders are shifting away from the fear of additional rate hikes, with some even anticipating policy easing later this year.
🔮 Short-Term Outlook
Given current sentiment and the momentum from Powell’s comments, gold is likely to retest the $3,200 – $3,205 zone in the short term. If bullish pressure continues and no major surprises come from incoming economic data, the $3,220 level could be reached before we see a potential pullback.
📌 Important Note:
- Keep an eye on upcoming U.S. economic releases like unemployment claims and regional manufacturing data to gauge dollar strength.
- If gold fails to break above $3,220 and shows signs of bearish divergence, it may present a short-term profit-taking opportunity or a correction setup.
📌 Like & follow for more real-time XAU/USD ideas and updates!
📌Drop your thoughts below – bullish or bearish from here?
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
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.