Gold Price Prediction: Will Gold Soar or Plummet? US Data Holds the Key This Week

• Gold prices at a critical juncture; US jobs and inflation data this week will determine its next move.
• After strong selling in January, gold saw renewed demand, with an ounce surpassing $5600 and 10 grams reaching ₹1,78,850 in India.
• Central banks, particularly the People's Bank of China, continue to be long-term buyers, with PBOC buying gold for 15th consecutive month.
• Weak US job market and inflation data could lead to Fed rate cuts, weakening the dollar and significantly boosting gold prices.
• Geopolitical risks, like US-Iran talks, continue to provide safe-haven demand, supporting gold prices regardless of talk outcomes.