Gold Price Forecast: Depressed amid a better market mood

Valeria Bednarik FXStreet

XAU/USD Current price: $1,784.55

The American dollar seesaws alongside US government bond yields.
Poor US employment figures ended up boosting Wall Street.
XAU/USD neutral in the near term bears lead as long as below 1,803.

Gold trades with modest losses on Monday, reverting its early strength. The bright metal gapped higher at the daily opening and hit an intraday high of $1,787.79 a troy ounce, currently trading at around $1,784.00. The dollar gained a firmer tone following Wall Street’s opening, as speculative interest moves past the disappointing employment figures posted last Friday. The US managed to create 210K new jobs in November, according to the Nonfarm Payrolls report.

The soft number has taken off some pressure on stocks, as Wall Street suffered from speculation of a tighter monetary policy in the country. US indexes are firmly up on Monday, with the DJIA up over 500 points at the time being. Meanwhile, the yield on the US 10-year Treasury note hovers around 1.40%, up from an intraday low of 1.37%, providing a mild boost to the American currency.

Gold price short-term technical outlook

Gold remains subdued, not far from its November low at $1,758.81 a troy ounce, the immediate support level. Technically speaking the bright metal is at risk of falling, as the daily chart shows that XAU/USD remains below all of its moving averages, with the 100 and 200 SMAs converging directionless at around 1,792.00. Technical indicators have bounced modestly from their recent lows, but remain well into negative levels without clear directional strength.

The near term picture is neutral, as the 4-hour chart shows that technical indicators are stuck around their midlines, as the metal hovers around a flat 20 SMA. The longer moving averages remain above the 1,800 figure, slowly gaining bearish strength.

Support levels: 1,758.80 1,745.20 1,734.90

Resistance levels: 1,792.00 1,803.85 1,810.65

View Live Chart for the XAU/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

AUD/USD sticks to positive bias above 0.7100; lacks bullish conviction

AUD/USD trades with a positive bias for the second straight day, holding above 0.7100 in the Asian session on Friday as softer US bond yields keep US Dollar bulls on the back foot. Furthermore, hawkish RBA Governor Bullock's comments boost rate hike bets and support the Aussie. However, the Fed's hawkish outlook, along with geopolitical uncertainties, limits USD losses and caps the pair.

USD/JPY jumps above 157.00 after BoJ's expected rate hike to 1.25%

USD/JPY picks up fresh bids and jumps above 157.00 in the Asian session on Friday after the Japanese Yen remains under intense selling pressure despite the Bank of Japan's (BoJ) interest rate hike to 1.25% and a somewhat hawkish Monetary Policy Statement, as two dissents against the rate hike weigh. All eyes now remain on BoJ Governor Ueda's press conference for further trading impetus.

Gold: Acceptance above $4,400 is critical for buyers

Gold holds the previous recovery around $4,350 early Friday; buyers still cautious. US Dollar trades subdued amid retreating Oil prices and US Treasury bond yields. Gold settled Thursday above the 100-day SMA near $4,320, with a neutral daily RSI.

Bitcoin extends recovery, Ethereum eyes $2,500, XRP holds $1.30

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their recovery, trading above $76,700, $2,400 and $1.300, respectively, on Friday. These top three cryptocurrencies now face key technical levels that could determine whether their recoveries extend further or pull back.

Silver is the metal the Copper rebound left behind

Copper producers answered a price near $14,000 a tonne by making more copper in the first half of 2026, and the way they did it means the silver shortfall gets no relief from the mines that supply more than a quarter of the world's silver. Copper is produced two ways.

How Japan became the World's Banker and why that era may be ending

Japan's ultra-low interest rates helped finance trillions of dollars in global investments for more than a decade, making the Japanese Yen one of the world’s cheapest sources of funding. With the Bank of Japan expected to tighten policy again this week, that advantage may be entering a new phase. While most major economies raised interest rates, Japan remained the world's outlier.