Gold Price News and Forecast: XAU/USD buyers struggle to retake control

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Gold Price Analysis: Full consolidation mode in gold unless these levels are broken

Gold is in consolidation mode after its impressive bull run recently. The price hit a high of USD 1981.34 per troy ounce and now has moved lower and if a firm consolidation zone. USD 1940 per ounce is now a support level in the near term and if it is broken there could be a move lower the main consolidation low just below USD 1910 per ounce. The FOMC rate decision and press conference has led to some confusion with the risk theme in equities markets flip-flopping from the EU to the US session.

Gold Price Analysis: XAU/USD buyers struggle to retake control

Gold prices ease to $1,957 during the early Asian session on Friday. The yellow metal earlier surged from $1,939.66 before taking a U-turn from $1.960.32. In doing so, the quote managed to portray the first negative daily closing in 10-days on Thursday. Despite the reversal of the US dollar’s early-day gains, not to mention the US dollar index (DXY) drop to the fresh low since May 2018, the bullion failed to rise much off-late while waiting for more clues.

Be it the likely delay in the much-awaited US coronavirus (COVID-19) aid package or the surge in the pandemic, not to forget chatter about the delay in American Presidential Election and devastating GDP figures, nothing was positive to the risk-tone sentiment.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold recovers above $5,100 ahead of US NFP report

Gold price jumps back above $5,100 in the Asian session on Friday. The precious metal regains traction, helped by a fresh bout of US Dollar selling and persisting risk-off flows. The US employment report for February will take center stage later on Friday.

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.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

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.