GOLD – ONCE AGAIN AT A CROSSROADS

The gold scenario is becoming clearer: price is holding firmly at the key support zone around 3,300.900 and is gearing up to react to a series of “bombshell” U.S. data releases – including GDP and the Fed’s preferred inflation gauge, Core PCE. These two indicators are critical in shaping future Fed policy.

From a technical standpoint, buyers have halted the decline at a previous Fair Value Gap (FVG) – a zone that previously supported a bullish breakout. The recent rebound from this area opens up a potential move towards 3,368.700, where a new FVG exists and coincides with a long-term descending trendline. This is not only a technical target, but also a testing ground to assess whether the market has enough momentum to reverse the broader downtrend.

However, one must also acknowledge the risk: if upcoming U.S. data reinforces the Fed’s hawkish stance, gold is likely to face rejection at the trendline – and could once again slip below the 3,300 zone.