Technical Overview (Bullet Format)
• Support Zones:
o $3,351 – key support confirmed by mid-week retests and imbalance level

o $3,315 – deeper support level; bearish break below cancels upside scenario

• Resistance Levels:
o $3,404 – major resistance and Fibonacci retracement level; crucial for bullish continuation

o $3,439 – upper triangle boundary; breakout here could signal aggressive move toward new highs

• Channels & Patterns:
o Price action remains within an ascending triangle framework, with moving averages indicating momentum support

o RSI and momentum indicators suggest potential bullish continuation if support holds


Fundamental Highlights
• Rate Cut Expectations: Weak U.S. employment data boosted Fed rate cut bets, supporting gold.

• Outlook to $3,500+: Citi analysts now project that gold could reach $3,500–$3,600 over the coming three months, citing inflation concerns, a weakening dollar, and geopolitical instability.

• Upcoming Drivers: Markets are awaiting U.S. CPI data and Fed commentary, which could determine gold’s immediate direction. Gold is “under hostage” near the $3,400 level amid mixed signals.


This Week’s Watchlist
• Tuesday: U.S. CPI (inflation) – critical for Fed policy outlook
• Wednesday–Friday: Fed commentary and U.S. labor data (NFP) will heavily influence rate expectations and sentiment
• Ongoing: Global risk dynamics and trade headlines — especially any developments affecting real yields or geopolitical tensions — will remain key to gold’s moves

Weekly Outlook & Strategy
** Bullish Scenario**
• If gold holds above $3,351 and breaks $3,404, the next targets are $3,439 and potentially up to $3,500–$3,600 if momentum sustains.
** Bearish Scenario**
• A drop below $3,315 could negate the bullish setup and pivot toward correction, with downside objectives in the $3,275–$3,300 area.