XAUUSD – Week 08/09 to 12/09, Focus on CPI & PPI

XAUUSD – Week 08/09 to 12/09, Focus on CPI & PPI

Hello Traders,

Gold delivered a strong rally last week, consistently printing new highs on a daily basis. While this is not unusual, it has introduced caution in the market. Investor sentiment continues to lean heavily towards buying gold, underlining its importance as a safe-haven asset.

Fundamental Outlook

In the coming week, the release of US CPI and PPI data will be a key focus. These indicators will provide important insight into the financial health of the US economy and could directly influence the Fed’s decision on a potential rate cut in September.

Technical Perspective

Gold has already broken through the Fibonacci 1.618 level, with the next target aligning around the 2.618 extension near 3687.

Before reaching this zone, a mild correction at FVG (Fair Value Gap) areas cannot be ruled out.

For the long term, the zone around 3467 – 3475 is considered a strong buying region, supported by the confluence of FVG, Dibo, and Volume Profile.

Trading Strategies

Bullish Priority: Long positions remain favored. The 3467–3475 zone offers an attractive entry for longer-term buyers.

Bearish Condition: Short opportunities should only be considered if there is a confirmed reversal structure, with price breaking below 3510 or showing rejection signals near the 2.618 Fibonacci level.

Conclusion

For the upcoming week, gold remains a buy-on-dip market. Traders should closely monitor reactions at key levels, while staying flexible with short-term strategies as intraday updates unfold. Proper risk management remains crucial given the upcoming macroeconomic data releases.