If the Fed sounds more dovish than expected following the release of the latest inflation data, this could give gold bulls renewed confidence Such a development could propel prices through the all-time highs of 3500, especially with continued geopolitical support However, if the meeting is generally hawkish in tone and Powell expresses caution about future rate cuts, then with investors scaling back their bets on a Fed cut, the Gold could lose some of its luster Technically speaking, prices are bullish on the daily chart and the weekly close above 3430 signals a move to 3500 and the all-time highs above it. If gold loses this level, it could fall to 3400 and 3360 Gold prices are expected to resume their uptrend and challenge the April highs. Given geopolitical developments, gold's role as a safe haven is more impressive than the US dollar or US Treasuries and cryptocurrencies After the recent pullback, gold looks set to re-challenge the all-time highs near 3500 Gold words or any pullback is a good opportunity to buy If we do see further escalation in the Israeli-Iranian situation, the price of gold could continue to move higher However, if we start to see the situation wane -Iran coming to the table and at least starting to negotiate in some form - maybe the gold price just stays high and moves sideways, with what we've seen over the last few months will continue Gold hasn't broken out above the highs yet, and I think it needs to escalate further in order for that to happen For a little bit more aggressive support consider around 3430 then around 3420 On a pullback down it's the 3400 round number For resistance, resistance around 3450 then around 3462