XAUUSD weekly forecast

As mentioned in last week’s forecast of XAUUSD, gold continued its bearish pattern and broke into the 3200s zone. With global tensions, especially the tariff situation easing out, investors were seen shifting their interest from safe-haven assets and shifting to risk-based assets like stocks, or cryptocurrencies.

This week, gold is looking to consolidate before the major economic event of the FOMC on Wednesday. Let’s discuss the key pivot levels for gold buying and selling in this XAUUSD weekly forecast of May 5th to May 9th, 2025.

Previous week’s forecast recap of crypto.news

If you followed last week’s forecast and opened a sell from the $3342-$3353 level, you witnessed more than 1500+ points drop in gold.

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

Furthermore, the buying levels forecasted in gold from $3247-$3193 have also also given a 900+ points move so far.

Now let’s start by discussing the key economic events of this week and their possible impact on the price of XAUUSD.

Key economic events of this week

Several significant U.S. economic reports are scheduled for release this week, all of which might significantly impact XAUUSD.

Monday, May 5, ISM Services PMI:

The economic well-being of the US services sector is gauged by this index. While a worse figure may push gold higher since it indicates economic fragility, a better-than-expected report usually supports USD strength and may push gold prices lower.

Wednesday, May 7, FOMC Press Conference:

A news conference will take place after the Federal Open Market Committee (FOMC) releases its monetary policy statement. Any indications of interest rate or economic outlook changes will be actively watched by traders, as these could lead to significant volatility in the XAUUSD.

Thursday, May 8: Unemployment Claims

The number of people applying for unemployment benefits is displayed in this weekly report. If recession fears reappear, a growing figure might indicate a slowing labor market and make gold a more attractive safe haven.

Gold HTF Overview

After closing two weeks in complete red, gold is showing signs of strength. However, the weekly FVG of gold is still pending and it is expected to get filled in the near future, after which a major buy move can be seen. The buying zone is $3194-$3168 where you can find bullish momentum and enter a buy position in gold.

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

Gold Forecast for May 5th to May 9th

Gold is showing bullish momentum on the market open this week, however, there are strong supply areas above $3300. There are immediate levels of buying in the 4h timeframe in the area of $3259-$3239 where the 4h FVG is present right below the order block and also the value area low is present 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 trade on XAUUSD can be opened around $3305-$3313 which is the POC level and 1hr bearish orderblock as well.

Trading Strategies & Investment Recommendation

To conclude, the safe strategy in gold is to look for buys in the higher time frame levels and look for selling in the lower time frame levels. Mark these levels on your chart for easier trading guidance when you trade.