Gold Price Forecast: XAU/USD to add credence to bearish potential on a drop under $1,750

FXStreet Insights Team FXStreet

Gold price is meandering near three-week lows. There is more for sellers to flex their muscles, FXStreet’s Dhwani Mehta reports.

Downside open for gold bears

“A sustained move below the $1,750 psychological level will be on their radars to aim for the next downside target near the $1,730 region.”

“Acceptance above the 21-Daily Moving Average (DMA), now at $1,766, is crucial to initiate any meaningful recovery. However, the bearish 50 DMA at $1,774 will be a tough nut to crack for bulls. Fresh buying opportunities above the latter could warrant a retest of Wednesday’s high at $1,782.”

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD struggles to regain momentum in the low1.1600s

EUR/USD is giving some signs of life in the aftermath of two severe days of losses on Wednesday, reclaiming the 1.1600 hurdle and above on the back of the resurgence of a mild selling bias around the US Dollar. Moving forward, the usual US weekly Claims will take centre stage on Thursday ahead of Friday’s crucial NFP data.

GBP/USD tests key moving averages as growth downgrade weighs

GBP/USD was nearly flat on Wednesday, edging up 0.08% to settle around 1.3370 in a quiet session. The pair has fallen sharply from its late-January high near 1.3870 and is now testing the 200-day Exponential Moving Average, with this week's one-week forex heatmap showing Pound Sterling as one of the worst performers against the US Dollar, down about 1.4% on the week.

Gold benefits from a retreating USD; reduced Fed rate cut bets cap gains

Gold attracts some buyers for the second consecutive day on Thursday amid a modest US Dollar pullback from an over three-month high, though it remains below the $5,200 mark. Wednesday's upbeat US macro data further tempered hopes for three rate cuts by the Fed in 2026. Furthermore, escalating Middle East tensions might continue to benefit the USD's status as the global reserve currency and contribute to capping the bullion.