Gold Price News and Forecast: XAU/USD bulls are back

FXStreet Team FXStreet

Gold Futures: Upside looks capped

Prices of the ounce troy of the precious metal appears to have met strong resistance in the $1,650 area. Declining open interest in gold coupled with positive price action hints at the likeliness that further gains look limited around the $1,650 per ounce for the time being, opening the door at the same time for a potential consolidation or correction lower. Read more…

Asia follows US historic rally, Virus spread intensifies, Gold bulls are back

Gold prices are little changed, but that is not likely to remain the case as chaos reigns in the futures and spot market. Gold is definitely a safe-haven when you look at the premium futures is having with the spot market. It turns out the cause was that the Comex warehouses might not be able to get their hands on enough inventory to facilitate physical delivery. Gold futures are trading roughly $45 more than the spot market. The coronavirus impact on travel is making life harder for stocks to come into NY. Read more...

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FXStreet Team

FXStreet

EUR/USD hits fresh 2026 lows near 1.1570

EUR/USD adds to Monday’s heavy losses and reaches new yearly lows around 1.1570 on Tuesday. The pair’s deep pullback comes as the US Dollar extend its strong bounce, always propped up by the intense flight-to-safety environment amid the deteriorating geopolitical landscape in the Middle East.

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold meets buyers around $5,000, remains under pressure

Gold comes under renewed and marked selling pressure on Tuesday, dangerously approaching the critical $5,000 mark per troy ounce, reversing at the same time four consecutive daily advances. The yellow metal’s bearish tone comes on the back of the increasing demand for the Greenback and investors’ repricing of Fed rate cuts.