Gold Price Forecast: XAU/USD to find solid support at $1840 – Credit Suisse

FXStreet Insights Team FXStreet

Gold has retreated toward $1,850. According to strategists at Credit Suisse, XAU/USD’s weakness continues to ideally hold its 200-day average at $1840.

See – Gold Price Analysis: XAU/USD to end the year at $1800, potential for a nosedive to $1500 by end-2022 – OCBC

Gold to advance towards the $1941/66 neighborhood

“Gold approaches the FOMC still above its 200-day average, now at $1840. We stay biased higher and look for this to continue to hold for a move to resistance seen at the high for the year, November 2020 high and potential trend resistance at $1941/66.”

“Whilst we would expect $1943/66 to cap again for now to maintain the broader consolidation range, an eventual break should open the door to a move back to the $2075 record high.”

“A close below $1840 though would mark a near-term top to reinforce a broader sideways trend with support seen next at $1809/05 and then more importantly at $1765/55.”

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 gains traction to near 1.1800 as tariff uncertainty weighs on US Dollar

The EUR/USD pair holds positive ground around 1.1795 during the early Asian session on Tuesday. The US Dollar weakens against the Euro amid US tariff uncertainty. The release of the US January Producer Price Index report will be in the spotlight later on Friday.

GBP/USD treads water near 1.3500 as BoE-Fed divergence debate stalls

GBP/USD spent Monday spinning in place as market participants await a fresh catalyst to break the pair out of its recent range. The BoE's February hold came with a surprisingly dovish 5-4 split, and UK Consumer Price Index data last week showed inflation easing to 3.0%, reinforcing the case for earlier rate cuts, with most economists now looking to April or March for the next move.

Gold falls below $5,200 amid pullback from monthly highs

Gold price is back under the $5,200 level in the Asian session on Tuesday, pulling back from the highest level in four weeks reached at $5,250 earlier on. The Gold price upsurge was fuelled by heightened geopolitical tensions and global trade uncertainty following US tariff decisions. However, an improvement in risk sentiment and a fresh US Dollar upswing trigger a corrective decline in the yellow metal.

Solana DeFi platform Step Finance to close operations following treasury hack

The Solana based decentralized finance platform Step Finance announced it will end all operations effective immediately following a breach that drained its treasury.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.