Gold Price News and Forecast: XAU/USD bears seeking justice below key support

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD sellers keep lurking around $1,780

Gold prices remain lackluster below $1,780, currently around $1,776.44, during the early Friday’s Asian session. The bullion flashed a positive closing the previous day but couldn’t cross the one-week-old horizontal resistance. Though, the monthly support line continues to stop bears’ entry.

As a result, the buyers will look for a clear break above $1,780 to challenge the recent tops surrounding $1,789/90. However, the year 2012 top near $1,795/96 and $1,800 threshold can offer additional upside barriers afterward.

Gold Price Analysis: XAU/USD bears seeking justice below key support

XAU/USD has been a mixed bag this week and for the start of the month, trapping bears in a recent stop hunt from the $1,757.66 level where it met a high of $1,779.69 on the last session before the US long weekend.

At the time of writing, the price of the yellow metal is trading at $1,776.07 ahead of Thursday's close in the US session awaiting Asia to pick up the baton for the last day of the week. Casting minds back, the precious metal had rallied steadily since mid-March, eyeing the psychological $1,800 level.

Read more ...

Author

FXStreet Team

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.