XAUUSD

Gold is awaiting dovish signals from US inflation data. The most critical days for gold investors this week will be Wednesday (PPI) and Thursday (CPI). A slowdown in US inflation or figures below expectations, as the markets anticipate, will strengthen the perception that the Fed's interest rate hike cycle has come to an end, weakening the Dollar and increasing demand for Gold, a non-yielding asset. In this positive scenario, the price is expected to quickly target the resistance at $3617.41. Overcoming this barrier could carry the rise to levels of $3638.79 and then $3668.85. Conversely, stubborn inflation that comes in above expectations could trigger a rally in the Dollar, creating significant selling pressure on Gold. In this case, a pullback to the support at $3557.27 may occur, and if broken, a retreat to the main support at $3518.51 could be inevitable.