XAUUSD - Waiting for the next price increase?

Today, gold prices took a small bounce back, hovering between $2338 and $2340. Short-term traders are cashing in after the price dip at the start of the week. Everyone's eyes are now on the upcoming data, waiting to see what the Fed will do about interest rates.

Lately, Fed folks have been hinting they might ease up on money policies if inflation starts to chill consistently. So, this next batch of data is a big deal—it could really sway where gold prices head next.

Personally, I’m betting gold could shoot past its recent peak of $2448 per ounce, but that probably won’t happen until the Fed actually cuts rates. Let's see what today's news brings!

Trade closed: target reached