Gold Price Forecast: XAU/USD holds bullish bias near $4,400
TL;DR: Gold's rally paused exactly at major trendline resistance near 4,450, but shallow follow-through selling suggests consolidation, not reversal — with this week's Iran truce deadline and early-September US data now the two catalysts that will decide the next move.
Gold continues to trade close to multi-month highs following its recent advance, which was supported by the latest US inflation data. July's CPI broadly matched market expectations, reducing the likelihood of a Federal Reserve rate hike in September.
Gold maintains recovery as weaker US data supports gains
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
Pakistan Gold price today: Gold rises, according to FXStreet data
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Gold remains close to June 5 high as receding Fed hike bets undermine USD
Gold Price Forecast: XAU/USD extends its struggle with $4,400, but bullish bias intact
Hello, fellow traders. In this technical article, we'll take a quick look at the Elliott Wave charts of Gold (XAUUSD), recently published in the members' area of our website.