XAUUSD

One of the most important developments for gold this week will take place today. The FOMC minutes to be released in the evening may cause high volatility in gold prices due to the hints regarding the Fed's interest rate policy. The emphasis on a "higher for longer" approach in the minutes could put pressure on gold, which is a non-yielding asset. Powell's speech on Friday is another critical event to watch this week.

• Technical Levels: 3,389.27 - 3,271.77 - 3,250.00 - 3,236.77 - 3,315.15 - 3,201.77 - 3,284.27
• Technical Commentary: The 3,236.77 pivot level should be closely monitored before the FOMC minutes. Dovish messages from the minutes could trigger a move towards the 3,250.00 and 3,271.77 resistance levels. Hawkish statements, on the other hand, may accelerate sales towards the 3,315.15 (anomaly) and 3,201.77 support levels.