Gold Price News and Forecast: XAU/USD

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD at highest in over a month amid dovish Powell comments

Spot gold (XAU/USD) prices hit their highest levels in over a month of just north of the 18 March $1755 high in recent trade and continue to hold in the upper-$1750s. The pair has been on the front foot for most of Thursday’s session, rising from Asia Pacific levels in the $1730s. That means gold is trading with gains of about 1.1% or just under $20 on the day. To the upside, short-term bulls will be looking for a test of the 50-day moving average at $1764.

Driving the day

The main driver of gold price action on Thursday has been US government bond markets. Yields are a little lower, with the 10-year down about 2bps to under 1.64%. Following dovish commentary from Fed Chair Jerome Powell, more downside in US government bond yields may well be in store, which would be a positive for gold. Though bonds have not yet reacted much to Powell’s remarks, the US dollar has been hit, with the DXY slipping all the way back to the 92.00 level. The weaker US dollar is also a supportive factor for gold.

U.S. labor market is recovering. Will Gold too?

The March nonfarm payrolls were surprisingly strong. If the current favorable trend in the U.S. labor market continues, gold may struggle.

As the chart below shows, in March 2021, total nonfarm payrolls rose by 916,000 , following gains of 468,000 in February (after an upward revision). The latest gains were the largest since August 2020. It’s important to note here that job growth was widespread, although led by gains in leisure, hospitality, education, and construction.

EUR/USD gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.