Weekly Overview
This week, XAU/USD is trading at $4258.39, reflecting a 0.20% change from the previous close. After testing the lows of $4237.10, the metal is contending with selling pressure influenced by recent macroeconomic developments. Key resistance is now identified at $4279.68, while support is firmly set around $4237.10. The market sentiment appears cautious as traders weigh inflationary pressures against central bank policies.
Key Events This Week
Several economic events this week could significantly impact XAU/USD:
- Federal Reserve Meeting (Wednesday): Anticipated discussions on interest rate adjustments will be pivotal.