Gold Price Might Skyrocket to $3430, or Is This Just a Bad Joke? Find Out Here!

Ah, the sweet lullaby of the gold market! Last Friday, the pressure to buy gold went on a sudden vacation, leaving us with a more than 1000-point drop from $3403. Thank you, NFP data, for that delightful little nudge in favor of the ever-so-glorious U.S. dollar. 😒

But wait, what’s this? Russia decided to launch one of the largest air attacks of the war, possibly making gold more appealing and driving prices up. Oh, the irony of geopolitics and economics in bed together. 😏

Table of Contents

Let’s dive right in and chat about the golden stuff. Spoiler alert: it’s still a ‘buy’ for now, unless something bizarre happens. Shall we explore the key pivot levels for XAUUSD between June 9th and June 13th? Oh, joy. 💰

Previous week’s forecast recap of crypto.news

Oh, look, we nailed that one. Last week, we marked the weekly level, and gold went up by 236 points. If only all our predictions were this satisfying…

Now, let’s dig into this week’s impending economic catastrophes—err, events—and how they might nudge gold into action. Or not. But let’s pretend they will. 💸

Key economic events of this week

There are some spicy U.S. economic reports lined up this week that could send XAUUSD into a frenzy. Or not. Here’s a rundown:

Wednesday, June 11: CPI Information

• Core CPI m/m (0.3%) vs. 0.2% predicted: Surprise! Inflation is hotter than expected, and the USD gets stronger, possibly squeezing gold down. 🤑
• CPI m/m (0.2% expected): Yeah, this one’s neutral. Yawn. 😴
• CPI year-over-year (2.5% vs. 2.3% forecast): Higher inflation = a hawkish Fed, and probably a sad face for gold. 😞

Thursday, June 12: Jobs & PPI Data

• Core PPI m/m (0.3%) vs. -0.4%: If this rebounds, rate hike hopes might push gold into the dirt. Or maybe it’ll dance around like a confused toddler. 🤷‍♂️
• PPI m/m (0.2%) vs -0.5% earlier: Well, if inflation fears rise, gold might just pack its bags and leave. Or maybe stay. We don’t know. 🤔
• Unemployment Claims (241K vs. 247K forecast): A better job market? Well, the USD just flexed, and gold might want to hide. 🙄

Friday, June 13: UoM Information

• UoM Consumer Sentiment Prelim (52.5 vs. 52.2 expected): Slightly better consumer sentiment = bad news for gold. Trust me, the market isn’t thrilled. 🙃
• Initial UoM Inflation Forecasts: Higher inflation? Maybe gold gets a golden ticket. Lower? Well, gold is sad again. 😔

Gold HTF Overview

Gold is currently trapped in a thrilling range. On one side, we have $3357, and on the other, $3193. Will it break free? Or will it continue its sulking? Only time will tell.⏳

Gold Forecast for June 9th to June 13th

Gold is currently a bit bipolar, showing a bullish trend on higher timeframes but a slight tantrum on the 1-hour charts. It’s like gold is both excited and anxious. Which way will it go? Who knows. But it’ll do something. Probably. 🤷‍♀️

Gold’s pivotal points? A little fib zone here, a little resistance there—just the usual drama. Let’s see if it hits $3245 or breaks the $3403 ceiling. Place your bets. 🎰

First Selling Opportunity: The golden fib zone between $3335-$3344 is coming up. Gold will either love it or hate it. Who’s to say? 🤷‍♂️

Second Selling Opportunity: Around $3357-3369. Yep, it’s that time again. The POC and VAH levels are probably getting a bit tired of gold’s nonsense. 🛑

Trading Strategies & Investment Recommendation

To sum it up: gold might act like a roller coaster this week, so buckle up. Lower timeframes are screaming ‘sell’, but the higher timeframes are still whispering ‘buy’. Who will win? Stay tuned. 🎢

Support Levels

• $3303-$3294 – Test it, buy it. Maybe. 🤞

Resistance Levels

• $3335-$3344 – That fib zone we keep talking about. Seriously, is it worth it? 🧐
• $3357-$3369 – The POC and VAH of the bearish swing. Because why not? 🤷‍♀️

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2025-06-09 13:28