Gold: new rise or fall? XAUUSD analysis for 11.03.2024 – 17.03.2024

Mixed US macro statistics in February 2024, as well as contradictory comments from Fed Chairman Jerome Powell, caused a sharp USD weakening and a fall in US government bond yields. As a result, the gold rate rose to a new high of 2195.00.At the same time, technical and fundamental analysis indicate that the XAUUSD may continue to rise in the near future.Key Points The gold price is heading to new highs. New US inflation data can either strengthen the position of buyers or stop the XAUUSD growth.