Gold

Gold prices surrendered much of their previous session gains. However, the buying pressure has started to appear on the H4 timeframe after the retreat. This signals that the market is attempting to create a short-term equilibrium zone and preparing for a technical rebound.

Key Indicators

• Gold remains stuck in a sideways trade. However, the RSI hovers near 50, indicating balanced momentum. This means there’s room for another move up if buyers regain control.

Fundamental Context

Some of the key data points expected to dictate this week's gold price movements include the US PCE inflation and GDP data. Meanwhile, geopolitical developments in the Middle East and inflation concerns continue to be the main factors influencing market activity this week.