Gold stabilised at $4,000, but the upward trend has already broken down

Alexander Kuptsikevich FxPro

Gold has stabilised around the $4,000 mark over the last ten days, ending the week at roughly the same level as it started. Attempts by sellers to push the price below $3,900 are meeting with impressive buying interest.

This is facilitated by the Supreme Court, which is considering the illegality of US tariffs. If Donald Trump is defeated, the money will have to be returned. As a result, the budget deficit and public debt will increase, leading to chaos in the financial markets. Concerns about this are prompting investors to seek refuge in safe-haven assets. However, this all appears to be an attempt to play the old card, which can only delay the inevitable.

According to estimates by the World Gold Council, central bank purchases of bullion in 2025 are expected to amount to 750-900 tonnes. In each of the previous three years, the figure exceeded 1,000 tonnes. China's cancellation of VAT credits for precious metal retailers will increase prices for the jewellery industry and lead to a decline in demand. ETF stocks are falling.
HSBC, Bank of America and Societe Generale continue to stick to their forecasts of $5,000 per ounce. However, the gold rally has broken down. Selling on the rise is becoming relevant.

Author

Alexander Kuptsikevich

FxPro

Alexander Kuptsikevich, a senior market analyst at FxPro, has been with the company since its foundation. From time to time, he gives commentaries on radio and television. He publishes in major economic and socio-political media.

EUR/USD holds above 1.1650 on broad USD weakness

EUR/USD holds its ground and trades marginally higher on the day above 1.1650 after closing in positive territory on Monday. In the absence of high-tier data releases, investors will pay close attention to headlines on escalating EU-US tensions.

GBP/USD stays below 1.3450 after UK jobs data

GBP/USD retreats slightly from session highs but hold comfortably above 1.3400 in the European session on Tuesday. The data from the UK showed that the ILO Unemployment Rate remained unchanged at 5.1% in the three months to November, compared to the market expectation of 5%.

Gold extends rally, notches new record-high above $4,700

Gold builds on Monday's impressive gains and trades at a new record-high above $4,700 early Tuesday. Escalating geopolitical tensions and growing fears of deepening trade conflicts, alongside the broad-based selling pressure surrounding the US Dollar, fuels XAU/USD's rally.

Pi Network rebounds slightly but selling pressure persists

Pi Network edges higher by 1% at press time on Tuesday, signaling a minor recovery after recording a fresh record low of $0.1502 on Monday. Mainnet holders have withdrawn over 4 million PI tokens from centralized exchanges supporting Pi Network over the last 24 hours.

When tariffs turn territorial and fast money smell blood in the water

No trader had a US move on Greenland pencilled into their 2026 playbook. This was not a scenario lurking in the footnotes of anyone’s macro outlook. Yet here we are, with tariffs being waved like a naval blockade and diplomacy suddenly trading at a volatility premium.

Pi Network Price Forecast: PI rebounds slightly but selling pressure persists

Pi Network (PI) edges higher by 1% at press time on Tuesday, signaling a minor recovery after recording a fresh record low of $0.1502 on Monday. Mainnet holders have withdrawn over 4 million PI tokens from centralized exchanges supporting Pi Network over the last 24 hours.