Gold Price Analysis: XAU/USD gains 0.18%, looks to re-enter rising channel

Gold picks up a bid, probes the lower end of a rising channel.
Failure to retake bullish channel could invite stronger chart-driven selling.

Omkar Godbole FXStreet Contributor

Gold is currently trading at $1,902, representing a 0.18% gain on the day.

Having picked up a bid at $1,897 early today, the yellow metal is now looking to re-enter the bearish channel represented by trendlines connecting Sept. 28 and Oct. 7 lows and Oct.2 and Oct. 12 highs.

If followed by a move below the session low of $1,897, a failure to retake the bullish channel would confirm an end of bounce from the Sept. 28 low of $1,848 and open the doors for a fresh sell-off.

Alternatively, a break above Friday's high of $1,913 would validate the bullish reading on the daily chart MACD histogram and shift the focus to the 50-day simple moving average (SMA), currently at $1,924.

Daily chart

Trend: Neutral

Technical levels

XAU/USD

Overview
Today last price	1901.6
Today Daily Change	0.90
Today Daily Change %	0.05
Today daily open	1900.7

Trends
Daily SMA20	1895.11
Daily SMA50	1927.33
Daily SMA100	1871.63
Daily SMA200	1753.02

Levels
Previous Daily High	1914.04
Previous Daily Low	1897.86
Previous Weekly High	1933.3
Previous Weekly Low	1882.46
Previous Monthly High	1992.42
Previous Monthly Low	1848.82
Daily Fibonacci 38.2%	1904.04
Daily Fibonacci 61.8%	1907.86
Daily Pivot Point S1	1894.36
Daily Pivot Point S2	1888.02
Daily Pivot Point S3	1878.18
Daily Pivot Point R1	1910.54
Daily Pivot Point R2	1920.38
Daily Pivot Point R3	1926.72

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

USD/JPY steadies below 160.50 as BoJ's Uchida speaks on outlook

USD/JPY holds its bounce below 160.50 in Europe trading on Tuesday, following the release of the Bank of Japan's monetary policy decision. The BoJ hiked the key rate by 25 bps to 1% as widely, providing little to no impetus to the Japanese Yen. BoJ Deputy Governor Uchida's press conference is doing little to lift the Japanese Yen.

AUD/USD keeps losses near 0.7050 after RBA's expected pause

AUD/ISD is holding moderate losses near 0.7050 in the European session on Tuesday. Traders are assessing the Reserve Bank of Australia's (RBA) expected interest rate hike pause decision and the Governor Bullock's remarks, with the Australian Dollar holding lower ground.

Gold holds gains above $4,300 amid cautious markets

Gold maintains a mildly positive tone, holding gains after rallying about 6.5% over the last few days. The precious metal's recovery, however, has lost steam after crossing the $4,300 line and remains practically flat as the initial enthusiasm about the US-Iran peace deal faded, with investors awaiting details of the agreement and monetary policy decisions by major central banks.

Solana's rebound gains momentum as ETF inflows return

Solana (SOL) steadies at $73 after posting three consecutive green candlesticks since the weekend. The recent recovery is supported by institutional demand, with spot Exchange Traded Funds recording net inflows of $2.81 million on Monday.

Kevin Warsh opens first Fed meeting June 16 with rate hold expected

Kevin Warsh was confirmed by the Senate in a 54-45 vote and sworn in as Federal Reserve Chair on 22 May 2026. The ceremony took place at the White House, with Supreme Court Justice Clarence Thomas administering the oath. The FOMC meeting on 16 and 17 June is his first as chair. The June meeting is also a quarterly projection meeting.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.