GOLD WEEKLY - Key Events to Watch: ADP, Core PCE, Non-Farm

📌 Weekly Gold Outlook – Key Events to Watch: ADP, Core PCE, Non-Farm Payrolls 📉📈
🌍 Fundamental Overview
Last week, gold faced heavy selling pressure after failing to sustain its rally above the $3,450 level. Easing concerns over the US–China trade tensions and a stronger US Dollar — supported by stronger-than-expected Durable Goods Orders — triggered a sharp correction in Price.

The US Federal Reserve (Fed) continues to adopt a cautious stance, awaiting clearer economic data before adjusting its monetary policy. Meanwhile, recent figures from both the US and China show signs of economic resilience, reducing safe-haven demand for gold in the short term.

Key Events This Week:

ADP Non-Farm Employment Change

Core PCE Price Index m/m

Non-Farm Payrolls (NFP)

Volatility is expected to rise sharply as these major economic indicators are released.

📊 Technical Analysis – XAU/USD 2H Chart
Gold is currently undergoing a corrective phase after its strong rally earlier this month. Price is forming a descending channel and consolidating around critical support and resistance zones.

Immediate Resistance: 3,325 – 3,377

Immediate Support: 3,275 – 3,235

As long as Price remains capped below 3,325, the bearish bias will remain dominant.

🧩 Main Scenarios for This Week
Short-Term Rebound:

Price may retest the 3,275–3,277 area before sellers regain control.

Medium-Term Bearish Pressure:

If Price fails to reclaim the 3,325 resistance zone, it could break lower toward 3,235, 3,197, and potentially deeper into the 3,108 or 3,066 liquidity zones.

Bullish Reversal Scenario:

A sustained breakout and close above 3,377 would invalidate the bearish outlook and suggest a move toward the 3,420 target.

🔍 Key Price Zones for This Week
Resistance: 3,325 → 3,377 → 3,420

Support: 3,275 → 3,235 → 3,197 → 3,108 → 3,066

🧠 Suggested Trading Strategy
Prefer short positions when Price retraces toward the 3,275 – 3,325 resistance zone, aiming for downside targets at 3,235 and 3,197.

Be cautious with long positions: only consider buying if Price drops deeply into 3,108 or 3,066 and shows strong support reaction.

⚡ Note:
Given the upcoming releases of ADP, Core PCE, and Non-Farm Payrolls, the market is expected to experience significant volatility.
Stay disciplined and await detailed intra-week updates around key event times.