XAUUSD

The most important data for gold prices this week will be the US CPI on May 13 and the PPI figures on May 15. The annual CPI is expected to remain steady at 2.4%, while a 0.3% increase is anticipated on a monthly basis. The expectation for the PPI is a monthly increase of 0.2%, indicating an upward trend compared to a 0.4% decline in the previous month. If inflation data comes in higher than expectations, it could put pressure on gold prices. Technically, the resistance at 3276 will be monitored above the 3242 pivot level, while the support area at 3191 will be followed below.