Gold Price News and Forecast: 12-day-old support probes XAU/USD bears below $1,900

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD bears seek discount for $1,825/34/oz targets

Gold prices have fallen below a daily support structure like a knife through butter.

The price has met what appears to be a supporting trendline and prior structure. With a focus on the downside, bears should be looking for a discount from which to enter a swing-trading position.

Gold Price Analysis: 12-day-old support, market stabilization probe XAU/USD bears below $1,900

Gold prices seesaw between $1,888.65 and $1895.50, currently around $1,892.80, amid the initial Asian session on Wednesday. In doing so, the yellow metal consolidates the previous day’s losses, the heaviest drop since October 06, from the one-week low of $1,886.58. Although nothing changes the market’s downbeat mood, a lack of major catalysts and a pause after the heavy fall seem to justify the commodity’s latest pullback.

AUD/USD edges higher as hot CPI inflation and hawkish RBA lift rate hike bets

The AUD/USD pair gathers strength to near 0.7035 during the Asian trading hours on Friday. The Australian Dollar edges higher against the US Dollar as hotter Australian CPI inflation data has bolstered expectations of Reserve Bank of Australia rate hikes.

USD/JPY meets support near 157.00

USD/JPY retreats for the third consecutive day on Friday, revisiting the 157.00 region before attempting some recovery as investors continue to assess the latest BoJ meeting, where the central bank left rates unchanged, as widely anticipated.

Gold sinks to fresh yearly lows despite risk-off mood as Fed rate hike bets weigh

Gold slips to fresh year-to-date lows on Friday. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory.

Ripple Price Forecast: XRP bulls defend $1.20 as sell-side pressure triggers liquidations

Ripple (XRP) trades around $1.25 on Friday, rising from a short-term support level established at $1.20. This minor upward correction follows a sharp sell-off, triggered amid reports of a hack attack on the Binance exchange that impacted approximately $6.3 billion. The attack drove the broader crypto market on edge, as Binance suspended both deposits and withdrawals to contain the situation.

BoJ recap: A pause for now... but Japan has entered a new inflation phase

The Bank of Japan left its short-term policy rate unchanged at 1.25% but delivered a distinctly hawkish message on the risk of an inflation overshoot. The decision passed by 8-1, with board member Takata dissenting in favour of an increase to 1.5%, while Governor Kazuo Ueda stressed that the Bank would continue adjusting policy as needed.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.