Gold edged lower on Wednesday near a two-week low, as a stronger dollar and signs of easing friction between the USA and China dented demand.

Gold is now more than 5% below its late-February 2019 peak of $1,346 per ounce.

Meanwhile, investors now await the release of U.S. Federal Reserve's minutes at 1900 BST, which is expected to provide insights into the May 1 meeting by the central bank, when policymakers kept interest rates steady.

On Monday, Fed Chair Jerome Powell reiterated his unmoved stance stating it was premature to ascertain the impact of trade tariffs on monetary policy

Where are commodity prices heading next?  Watch Phil Carr at The Gold & Silver Club review Gold with the latest price forecast and predictions:

 

 

Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.

Analysis feed

Latest Forex Analysis

Editors’ Picks

AUD/USD bounces-off the channel support, looks to regain 0.6850

The bulls managed to defend the channel support/uptrend near 0.6829 amid a rebound in the risk sentiment, as reflected by the recovery in the Asian stocks. AUD/USD looks to regain the 0.6850 level amid a broadly firmer US dollar and ahead of the Aussie jobs data. 

AUD/USD News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Coronavirus FX Selloff, CAD Prime for Bank of Canada Breakout?

The most influential story for the financial markets today was reports that the first US case of corona virus has been confirmed. This deadly virus is spreading across the globe creating concerns about the impact on travel and consumer spending.

Read more

Gold remains under pressure around $1,551 as US dollar keeps the gains

Gold bounces off the intra-day low of $1,550.40, flashed a few minutes back, to $1,551.30 by the press time of the pre-European session on Wednesday. In doing so, the safe-haven ignores the geopolitical risks emanating from China.

Gold News

GBP/USD: Aims to revisit 200-hour SMA, immediate support trendline

GBP/USD registers mild losses while trading around 1.3045 during Wednesday’s Asian session. The pair earlier reversed from 50% Fib retracement of its fall from Jan 07 to 14. A two-week-old falling trend line adds to the resistance.

GBP/USD News

Forex Majors

Cryptocurrencies

Signatures