Gold Price Forecast: XAU/USD Rallies Amid Fed Speeches, US ISM Report, and Trade Tensions

Gold Price Forecast: XAU/USD Rallies Amid Fed Speeches, US ISM Report, and Trade Tensions

Gold prices surged on Tuesday as investor attention shifted to the high-profile ECB forum in Portugal, featuring speeches from Federal Reserve Chair Jerome Powell, ECB President Christine Lagarde, Bank of Japan Governor Kazuo Ueda, and Bank of England Governor Andrew Bailey.

At the time of writing, XAU/USD is holding steady near the $3,300 level, fluctuating above the 20-day simple moving average (SMA) at $3,350, with bulls eager to push prices toward the $3,400 resistance.

Market participants are closely watching for key policy comments scheduled at 13:30 GMT, while ongoing concerns over trade tensions and the upcoming US ISM manufacturing report continue to support demand for safe-haven gold.

Related Reads on Tredu.com:

• How Fed Speeches Impact Gold Prices
• Technical Analysis of XAU/USD: Key Levels to Watch
• US ISM Report and its Effect on Precious Metals