XAU/USD Weekly Forecast – Daily Star

May 6, 2025 stocks24

In the XAUUSD forecast from last week, gold continued its downward trend, entering the 3200s range. With global tensions easing, particularly around tariffs, investors are pivoting from safe-haven assets to more volatile options like stocks and cryptocurrencies.

This week, gold seems poised for consolidation ahead of the significant FOMC economic event on Wednesday. Let’s explore the key pivot points for buying and selling gold in this XAUUSD weekly forecast covering May 5th to May 9th, 2025.

Summary of Last Week’s Forecast

If you followed last week’s forecast and executed a sell between the $3342-$3353 range, you likely saw a drop of over 1500 points in gold.

XAUUSD weekly forecast: $3200s acting as support, a pump back to $3500 soon? - 1 — XAUUSD 1h chart – Source: Tradingview

Furthermore, the anticipated buying levels in gold ranging from $3247 to $3193 have already shown a movement of over 900 points thus far.

Now, let’s look into this week’s significant economic events and their potential influences on XAUUSD pricing.

Important Economic Events This Week

A series of major economic reports from the U.S. are scheduled to be released this week, which could significantly affect XAUUSD.

Monday, May 5, ISM Services PMI:

This index gauges the economic health of the U.S. services sector. A lower reading could lead to higher gold prices, reflecting economic weakness, while a stronger report might strengthen the USD and result in lower gold prices.

Wednesday, May 7, FOMC Press Conference:

A press conference will accompany the Federal Open Market Committee (FOMC) monetary policy statement. Traders will scrutinize any signals regarding interest rate or economic outlook changes, as these could induce notable volatility in XAUUSD.

Thursday, May 8: Unemployment Claims

This weekly report indicates the number of individuals applying for unemployment benefits. If recession concerns resurface, an increase in claims could suggest a weak labor market, making gold a more attractive safe haven.

Gold HTF Overview

After two consecutive weeks of drop, gold is beginning to show signs of recovery. Nevertheless, the weekly FVG for gold remains unfilled and is expected to complete soon, potentially leading to a significant buying opportunity. The buying zone is marked at $3194-$3168, where bullish momentum could be expected, presenting a chance to enter a long position in gold.

XAUUSD weekly forecast: $3200s acting as support, a pump back to $3500 soon? - 2 — XAUUSD 1w chart – Source: Tradingview

Gold Prediction for May 5th to May 9th

This week, gold is commencing with bullish momentum; however, significant supply zones are present above $3300. Immediate buying levels can be found within the 4-hour timeframe, around $3259-$3239, where the 4-hour FVG is located just beneath the order block, coinciding with the value area low of the bearish swing.

XAUUSD weekly forecast: $3200s acting as support, a pump back to $3500 soon? - 3 — XAUUSD 4h chart – Source: Tradingview

A short position on XAUUSD may be initiated in the range of $3305-$3313, aligning with the POC level and the 1-hour bearish order block.

Trading Strategies & Investment Tips

In conclusion, a wise strategy for trading gold involves seeking buying opportunities at higher time frame levels while looking for selling opportunities at lower time frame levels. Mark these levels on your chart for clearer trading direction.