Gold prices hit a 2-week peak on Wednesday at 1309 as the European Central Bank reinforced accommodative monetary policy.

The focus now turns to the minutes from the U.S. Federal Reserve's March meeting due at 19:00 BST.

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

 

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EUR/USD struggles despite US-China trade truce, focus on German inflation

EUR/USD is on the defensive, but holding above the 200-day moving average. Reports of US-China trade truce are boding well for the US Dollar. An above-forecast German CPI could yield a rally in EUR/USD. 

EUR/USD News

GBP/USD: Less attention to UK politics as all eyes on trade headlines

UK political hustings, statements from MPs couldn’t lure the GBP/USD traders. Markets await fresh headlines from the G20 meeting for fresh impulse. US data can offer intermediate trade opportunities.

GBP/USD News

USD/JPY extends the break above 108.00 on US-China trade truce news

The latest reports of a US-China trade truce triggered a renewed risk-on wave and knocked-off the Yen, with the USD/JPY pair now extending its break above the 108 handle while the focus shifts towards the US Q1 final GDP data for fresh impetus.  

USD/JPY News

US Q1 GDP Final Revision Preview: Look ahead not behind

The second revision and third version of first quarter annualized GDP is expected to be unchanged at 3.1%. The initial release was 3.2%. The unexpected strength of the US economy in the first quarter came after a successful 2018.

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Gold: Off 6-year highs, but breakout on monthly chart a done deal

With the 14-day relative strength index (RSI) still holding well above 70.00, the yellow metal may drop below $1,400 in the next 24-36 hours. Also, reports of temporary US-China trade truce could weigh over the safe haven metal.

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