XAUUSD

The US CPI data on May 13 and the PPI data on May 15 will be decisive for gold prices. If inflation meets expectations, it could push gold to the resistance level of 3354.07. Powell's speech will also be closely monitored. If it drops below the first support level of 3246, the critical support at 3210 may be tested. The technical outlook is positive above the pivot, while below it, price movements may be seen towards the support of the long-term upward trend channel.