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Gold Recovers from Early Week Losses as Inflation Data Strengthens USD
Gold Recovers from Early Week Losses as Inflation Data Strengthens USD
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BTCCSquare news:
Gold prices reversed course last week after initial selling pressure, closing bullishly above $3357. The shift suggests renewed investor interest in the precious metal despite a strengthening US dollar.
Upcoming US economic reports on inflation and retail sales could further influence XAUUSD price action. Hotter-than-expected inflation data may paradoxically support Gold prices by extending the Fed's tightening cycle, while strong retail figures could bolster the USD.
Traders are watching key pivot levels between July 14-18 as the market digests mixed signals: persistent inflation supports gold's hedge appeal, but dollar strength creates headwinds. The technical outlook suggests buying opportunities may emerge on retracements.
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