Weekly Special Report: Gold

GEOPOLITICS: MIDDLE EAST WAR

• BREAKING (MAY 6) U.S.A. – IRAN DEAL REPORTEDLY CLOSE TO REACHING?  A U.S. media outlet reported on Wednesday that the White House believed it was closing in on a one-page memorandum to end the ​war with Iran, with reports saying the U.S. expected Iranian responses on several key points in the next 48 hours.
• BREAKING (MAY 5): U.S. PRESIDENT TRUMP ANNOUNCED THE SUSPENSION OF "PROJECT FREEDOM". US President Trump posted the following: Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed.

Source: Reuters, Bloomberg, CNBC, CNN, Fox News

EVENTS:

• FRIDAY, MAY 8 AT 13:30 GMT: U.S. NON-FARM PAYROLLS AND UNEMPLOYMENT RATE (APRIL). Markets expect NFP to slow sharply to 73K from 178K previously, while the unemployment rate is forecast to remain unchanged at 4.3%. Weaker-than-expected job growth or an unexpected rise in the unemployment rate would reinforce expectations for Federal Reserve rate cuts, supporting further upside in gold prices.
• TUESDAY, MAY 12 AT 13:30 GMT+1: U.S. INFLATION (CPI) (APRIL). With the ongoing Iran war, investors remain cautious as higher energy prices could push inflation higher. However, Fed Chair Jerome Powell stated recently that inflation expectations remain well anchored despite rising energy prices, reviving expectations of monetary easing, supporting gold prices. The US headline inflation rate in March came in at 3.3%.
• THURSDAY, MAY 14 AT 13:30 GMT: U.S. RETAIL SALES (MoM) (APRIL). A key indicator of consumer spending and overall economic activity. Weaker retail sales could reinforce expectations of monetary easing, potentially weakening the U.S. dollar and supporting gold prices.

PRICE ACTION

• GOLD PRICE HIT A NEW ALL-TIME HIGH ON JANUARY 28, 2026 ($5,597.41). Gold price currently trades at around $4,730, and if it fully recovers to its previous all-time high, it could see an upside of around $867. However, the price could also decline.
• FORECAST: Wells Fargo forecasts $6,100; Bank of America forecasts $6,000; Goldman Sachs forecasts $5,400; Morgan Stanley forecasts $5,700; UBS forecasts $6,200; JPMorgan forecasts $6,300; Deutsche Bank forecasts $6,000; Societe General forecasts $6,000.

TECHNICAL ANALYSIS

• SUPPORT AREA: $4,700 - $4,500. The recent increase has pushed gold prices back above a key technical support zone around $4,700–$4,500. This area could act as a short-term floor; however, price movements remain uncertain, and a sustained break below this range may signal further downside risk.
• LONG-TERM UPTREND REMAINS INTACT: Gold continues to trade within a broader long-term uptrend supported by the rising black trendline. Despite recent volatility, prices remain up around 10% since the beginning of 2026 and approximately 85% since January 2025, highlighting the strength of the longer-term bullish trend.

GRAPH (Daily): February 2025 – May 2026

Please note that past performance does not guarantee future results

Gold, May 7, 2026
Current Price:  4,730

Example of calculation based on weekly market trend for 1.00 Lot¹

1.  The above calculations are made based on 1.00 lot which is equivalent of 100 units
2.  Calculations for exchange rate used as of 12:30 (GMT+1) 07/05/2026

You can use risk management tools such as Stop-Loss and Take-Profit.