Gold Price News and Forecast: XAU/USD bears back in charge below 4-hour resistance

FXStreet Team FXStreet

Gold Price Analysis: Top-side failures puts focus back to the $1,750's

As per the prior analysis at the start of the week, 'The Chart of the Week: Gold on verge of significant correction', and 'Gold Price Analysis: Bulls come up for their last breaths?', the price is showing signs of exhaustion on the top side of the supply zone at $1,790.

The next key level for Gold

Gold rallied last week toward the top of a down-trending channel that has been in force since prices peaked last summer. A breakout attempt in early January failed. The gold market subsequently slumped to a potential double-bottom low in March around $1,675/oz.

The $1,800 level now looms as a critical technical juncture. The recent bounce could either fail around there… or gather the strength to finally break out of the multi-month corrective phase.

EUR/USD weakens toward 1.1600 as firm US data revives the US Dollar

The EUR/USD edged lower on Thursday, down some 0.21% as market sentiment remains risk averse due to the ongoing conflict in the Middle East. This and solid US economic data pushed the pair lower towards the 1.1600 figure ahead of Friday’s session.

GBP/USD stays offered near 1.3340

GBP/USD fades Wednesday’s uptick and trades with decent losses in the 1.3340 zone in the latter part of Thursday’s session. Cable’s weakness, alongside the rest of the risk complex, follows the strong performance of the Greenback amid intense geopolitical jitters.

Gold: further weakness could challenge $5,000

Gold comes under fresh selling pressure on Thursday, slipping back below the $5,100 mark per troy ounce. Persistent strength in the US Dollar (USD) is preventing the yellow metal from building a meaningful recovery, even as markets remain risk-averse amid the deepening conflict in the Middle East.

NYSE parent Intercontinental Exchange partners with OKX, invests at a $25B valuation

OKX announced an investment from Intercontinental Exchange, raising its valuation to $25 billion, alongside a partnership to expand regulated crypto futures and tokenized equity offerings globally.

Two PMIs, two Chinas

China’s economic data are often treated with a degree of caution by global investors. The challenge is not necessarily that the numbers are incorrect, but that they can describe very different parts of a vast and complex economy. Nowhere is that more evident than in China’s PMIs.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.