Gold’s Grand Adventure: Will It Hit $3500 Again? 🤑

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In a move that could only be described as a plot twist worthy of a farcical novel, Donald Trump has announced a 50% tariff on Europe, but, in a stroke of genius (or perhaps sheer whimsy), he has decided to delay it until July 9, 2025. This delightful delay has sent the Euro, British Pound, and Australian Dollar soaring, while the United States Dollar continues its downward spiral, much like a lead balloon at a party. 🎈

Now, dear reader, let us peruse the Table of Contents, shall we?

As one might expect, gold has decided to flex its muscles against the US dollar, setting its sights on the tantalizing $3400 mark, and perhaps, in a fit of ambition, even $3500! Who knew gold had such lofty aspirations? 💰

This week, the prevailing sentiment is that gold is a buy, provided it retraces to certain levels. Let us dive into the key pivot levels for gold buying and selling in this weekly forecast for May 26th to May 30th, 2025.

Previous week’s forecast recap of crypto.news

Last week, we marked two levels on the gold chart as potential long position targets: $3261 and $3328. Both levels were hit with the precision of a well-aimed dart, much to the delight of our readers.

We also shared a selling level in the 4-hour timeframe, which yielded a delightful 470 pips before continuing its upward trajectory. It seems gold has a penchant for the dramatic! 🎭

Now, let us embark on a discussion of the key economic events of this week and their potential impact on the price of XAUUSD.

Key economic events of this week

Several significant U.S. economic reports are scheduled for release this week, and they are expected to have a rather dramatic effect on XAUUSD.

Wednesday, May 28: FOMC Meeting Minutes

If the minutes reveal a hawkish Fed (leaning towards more rate hikes), we might see gold take a tumble. However, if the tone is dovish (think rate reductions or fears of an economic slowdown), gold could be in for a treat! 🍰

Thursday, May 29: Unemployment Claims & Prelim GDP Q/Q

  • Strong GDP: Indicates a robust economy, which is bad news for gold (USD up).
  • Weak GDP: Increases recession fears → gold is the belle of the ball (everyone wants a safe haven).

Unemployment Claims: Higher than expected claims signal a poor job market, which is splendid news for gold. Conversely, reduced claims might just throw a spanner in the works for gold prices.

Friday, May 30: Index of Core PCE Prices m/m

The Fed has a soft spot for this inflation indicator.

PCE higher than anticipated: More Fed tightening = a gloomy outlook for gold.

PCE below expectations: Eases pressure on rate hikes, thus giving gold a reason to shine! ✨

Gold HTF Overview

Gold has already swept liquidity below the $3200 level, and the next targets should be external liquidity at $3435 and $3500, respectively. Should the $3120 level break in the weekly timeframe, we might need to rethink our strategy.

Gold Forecast for May 26th to May 30th

Gold is exhibiting bullish momentum across all lower time frames, making it an ideal candidate for buying and holding. 🏦

On the 4-hour timeframe, the strongest buying level is emerging at the FVG, VAL, and order block of $3260-3208.

On the 1-hour timeframe, there is also an immediate buying opportunity from the levels of $3313-3291, thanks to the 0.618 fib level, POC, and FVG, all aligning like stars in a cosmic ballet.

Trading Strategies & Investment Recommendation

In conclusion, the prudent strategy for gold is to seek out buys in both lower and higher time frame levels. Selling is not recommended this week, as the risk-to-reward ratio may resemble a game of chance at a rather dodgy casino. 🎲

Support Levels

  • $3260-3208 – 4h support, FVG, order block, VAL
  • $3313-3291 – 1h bullish order block, FVG, POC, 0.618 Fib level

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2025-05-26 20:30