Gold Price Weekly Forecast: US Jobs and GDP Data to Influence XAU/USD Movement
Gold (XAU/USD) rebounded from support levels to close at $3,319, as traders brace for a pivotal week of US economic data. The US Dollar Index’s rise to 99.51 capped gold’s upside, despite softer Treasury yields and weakening consumer sentiment.
This week’s releases—JOLTS Job Openings, ADP Employment Change, and GDP figures—could dictate gold’s near-term trajectory. A technical breakout above $3,370 may signal a push toward $3,431 and $3,501 targets, reinforcing the metal’s long-term bullish trend.