FOMC Week Could Propel Gold to Record Highs Amid Key Economic Events

Gold (XAUUSD) maintains bullish momentum above $3350, with technical indicators pointing toward potential breakouts at $3380 and $3400 resistance levels. The metal's trajectory hinges on this week's macroeconomic catalysts, including FOMC minutes, PMI data, and Fed Chair Powell's Jackson Hole speech.

A dovish tilt from the Fed could fuel gold's ascent toward $3440-$3500—potentially setting new all-time highs. Conversely, hawkish signals may trigger profit-taking at the $3420-3440 supply zone. Key support lies at $3314-3281, with institutional buyers likely accumulating NEAR these levels.

Traders anticipate heightened volatility across asset classes, with gold's inverse correlation to the USD Index amplifying price action. The metal's role as an inflation hedge continues attracting capital amid lingering concerns about real yields and geopolitical risks.