Gold: Bulls now need to regather themselves [Video]

Richard Perry Independent Analyst

Gold

Our fears of gold being dragged under by broader market selling pressure came to pass yesterday as the price fell -3.5% on the day. We have been looking for buy signals within the three month uptrend, but that trendline was smashed by the move and the bulls now need to regather themselves. If the move is anything like the similar, margin call related sell-off of 28th Feb, the market dusted itself down and went again higher. It is interesting this morning to see gold trading higher and already +$35 off its earlier low at $1551. Within the context of still positively configured medium term momentum signals, we remain medium term buyers of gold into weakness whilst the support at $1536 remains intact. Near term positive signals are coming through on the hourly chart this morning, but hourly RSI above 60 would be needed to say the bulls are serious again. Resistance at $1606/$1611 now needs to be overcome to suggest a resumption of the move higher. A bull failure, with a negative close and move below $1560 (yesterday’s low) would be a concern that momentum of the correction has not finished yet.

Author

Richard Perry

Independent Analyst

Richard Perry, Independent Market Analyst, has over 20 years of experience working in financial markets in London.

GBP/USD dips below 1.3350 as USD demand surges

GBP/USD extends its intraday slide and closes in on 1.3300 in the American session on Thursday. The pair remains under heavy bearish pressure as the US Dollar (USD) benefits from the risk-averse market atmosphere amid escalating geopolitical tensions in the Middle East.

EUR/USD drops toward 1.1350 post ECB decision

EUR/USD remains under heavy bearish pressure in the second half of the day on Thursday and trades at its lowest level in three weeks below 1.1370. The ECB's cautious tone on policy tightening in the near future and the broad-based US Dollar (USD) strength on risk-aversion drag the pair lower.

Gold bulls seem hesitant amid inflation-driven Fed hike bets and bullish USD

Gold consolidates the previous day's heavy losses and remains on the defensive below $4,050 during the Asian session on Friday amid rising expectations of a Fed rate hike, bolstered by energy-driven inflation concerns. Moreover, the US-Iran standoff and US President Donald Trump's new tariffs underpin the US Dollar's reserve currency status, which further weighs on the bullion. The XAU/USD pair, however, sticks to modest weekly gains as traders look to the global flash PMIs for fresh impetus.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

Bitcoin falls as surging Oil prices revive inflation concerns

Bitcoin extends its correction, trading below $65,800 after a modest decline in the previous day. Despite BTC’s fading strength, US-listed spot Bitcoin Exchange Traded Funds continued to attract institutional inflows on Wednesday, marking the seventh consecutive day of gains.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.