TRENDING:

GBP/USD

XAU/USD

Gold: The outlook remains on a knife-edge [Video]

Richard Perry Independent Analyst

Gold

The outlook for gold remains on a knife edge. Following the rebound from $1693 on Wednesday the market has rallied back into the resistance around the $1722 pivot and a near term downtrend. Although the market closed positively yesterday, the candle hit the downtrend resistance and closed just under the pivot. Trading cautiously this morning, there is a real sense that this is a near term crossroads now. Picking up off a medium term uptrend on Wednesday and hitting the near term downtrend today, this Is a move that could be close to the bulls regaining control. However, the rebound has stalled today and needs to breach the downtrend (around $1724 today) but with a move above $1735 resistance at least needed to really suggest positive momentum is building again. For now, this is a waiting game. President Trump could easily announce something today that massively shakes the positive risk appetite and pulls strong positive momentum into gold once more. We remain medium term buyers of gold and see that this near term correction will be an opportunity. The corrective set up needs to be broken for that to take hold. Support at $1693 is growing in importance now and the support of a 7 week uptrend comes in at $1699 today.

Author

Richard Perry

Independent Analyst

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD hovers around 1.1700, US Jobless Claims data eyed

EUR/USD is trading in a range around 1.1700 in European trading on Thursday. The pair's upside remains capped by a pause in the US Dollar decline, led by the less hawkish Fed outcome. Markets await the release of the US weekly Initial Jobless Claims report for further trading incentives.

GBP/USD struggles below 1.3400 ahead of US employment data

GBP/USD stays defensive below 1.3400 in the European session on Thursday, pressured by a modest US Dollar upswing. Nonetheless, the potential downside might be limited after the US Federal Reserve delivered a rate cut at its December policy meeting. Traders brace for the US weekly Initial Jobless Claims report due later in the day.

Gold sticks to intraday losses amid modest USD bounce; dovish Fed limits further decline

Gold touches a fresh daily low during the early European session, though it lacks follow-through and rebounds slightly from the $4,200 neighborhood. The US Dollar attracts some buyers and recovers a part of the previous day's post-FOMC slump to its lowest level since October 24.

Solana dips as hawkish Fed cuts dampen market sentiment

Solana price is trading below $130 on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.

Fed projects only 50 bps of additional rate cuts between 2026 and 2027; lifts GDP forecasts

The Federal Open Market Committee’s (FOMC) latest dot plot, released on Wednesday, indicates that interest rates will average 3.4% by the end of 2026, in line with the September projection.

Solana dips as hawkish Fed cuts dampen market sentiment

Solana (SOL) price is trading below $130 at the time of writing on Thursday, after being rejected at the upper boundary of its falling wedge pattern. The broader market weakness following the Federal Reserve’s hawkish rate cut has added to downside momentum.

Gold

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025