XAUUSD

While gold is centered around the pivot level of 3309.55, today's unemployment claims, PMI data, and existing home sales figures from the U.S. will guide gold prices. Weak U.S. data (high unemployment claims, low PMIs, weak home sales) could strengthen expectations of a slowdown in the U.S. economy and that the Fed may take more cautious steps in its interest rate hike cycle. This situation could increase demand for gold, pushing prices towards the resistances of 3333.87 (R1) and then 3349.01 (R2). On the other hand, if U.S. data generally comes in better than expected, it could lead to a decline in gold to the support levels of 3294.41 (S1) and 3270.09 (S2).