Gold Price News and Forecast: XAU/USD

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD steadies above $1,850, key levels remain intact

The XAU/USD pair closed the first day of the week virtually unchanged at $1,855 and seems to be having a difficult time making a decisive move in either direction on Tuesday. As of writing, the pair was posting small daily losses at $1,854.

XAU/USD technical outlook

The Relative Strength Index (RSI) indicator on the daily chart is staying below 50 for the second straight day on Tuesday, suggesting that the bullish momentum is struggling to build up. However, the 200-day SMA, currently located at $1,850 continues to act as a key support and sellers may want to wait to see a daily close below that level before dragging gold lower. Below $1,850, $1,845 (Fibonacci 61.8% retracement of the December rally) could be seen as the next support ahead of $1,837 (Jan. 22 low).

Will Biden’s executive blitzkrieg defeat gold?

A new sheriff is in in town, and he’s making some rearrangements. Will the new order of things support the price of gold?

What a blitzkrieg! Joe Biden certainly wastes no time in signing executive orders. Since inauguration, he introduced several policies, including mandating masks on federal property, in airports and on certain public transportation, and the end of a travel bank on some countries. Biden also terminated the construction of the wall at the Mexican border, halted the withdrawal from the WHO and placed the U.S. back on the path to rejoining the Paris climate accord.

EUR/USD stays below 1.1800 as markets await Fed speeches

EUR/USD remains trapped in a tight range below 1.1800 in the second half of the day on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on comments from Federal Reserve officials.

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold retreats below $5,200 on renewed USD strength

Gold stages a deep correction following Monday's rally and trades below $5,200. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar gathers strength and weighs on XAU/USD ahead of Fed policymakers' speeches.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.