Gold Price Near Weekly High as Investors Eye US Inflation Data

Gold Price Near Weekly High as Investors Eye US Inflation Data

XAU/USD Supported by Geopolitical Risk and Fed Rate Cut Bets

Gold (XAU/USD) maintains its intraday gains near the weekly high in early European trade on Wednesday, lifted by a combination of geopolitical tensions, trade-related uncertainty, and expectations of Fed policy easing later in 2025.

A US appeals court recently allowed the controversial “Liberation Day” tariffs to remain in effect while an appeal is reviewed. This legal ambiguity is reviving investor caution, thereby supporting safe-haven demand for gold.

Cautious Optimism Surrounds US-China Trade Talks

Despite the uncertainty, a slightly improved sentiment around US-China trade negotiations tempers aggressive bullish moves in gold. The markets are awaiting more concrete developments before expanding long positions, especially ahead of the US CPI data release, scheduled for later today.

Limited USD Strength Restrains XAU/USD Rally

While the US Dollar (USD) sees modest strength in anticipation of the inflation data, it hasn’t been strong enough to reverse gold’s upward momentum. That said, the greenback’s resilience may restrict further upside in the short term.

Technical Outlook: Bulls in Control, but Eyes on Data

Technically, Gold remains in a bullish posture, with prices supported above $2,330. A sustained break above $2,345–$2,350 could open the door to the next leg higher, while downside remains limited unless $2,310 is breached.

Key Levels to Watch:

• Support: $2,320, $2,310
• Resistance: $2,345, $2,365

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