Gold Price News and Forecast: XAU/USD continues to surge [Video]

FXStreet Team FXStreet

Is gold gearing up for a major breakout? [Video]

Gold prices have made a strong recovery from March lows, boosted by President Joe Biden's massive $2.3 trillion infrastructure stimulus plan.

Similar to the $1.9 trillion stimulus plan signed only a few weeks ago – Biden’s new package will involve pumping hundreds of billions of dollars into improving the nation’s aging roads, bridges, schools, railways, waterways, airports and cellular network. Read more...

Gold analysis: Continues to surge

During the second part of Tuesday's trading, the yellow metal's price reached the resistance zone just above the 1,745.00 level. The metal immediately bounced off it and retraced back down. By the middle of Wednesday's trading, the price was trading near the 1,740.00 level.

In the meantime, the price was being approached by the support of the 55-hour simple moving average. If the SMA provides enough support for the price to push through the resistance of the zone above 1.745.00, the metal could test the resistance of the March high level near 1,755.00. Read more...

Gold Price Forecast: XAU/USD bulls turn cautious ahead of FOMC minutes

Gold witnessed a modest pullback from the $1,745-46 supply zone during the Asian session on Wednesday and eroded a part of the overnight gains to two-week tops. The US dollar found some support from a modest uptick in the US Treasury bond yields and for now, seems to have stalled its recent corrective slide from four-month tops. This, in turn, was seen as a key factor that exerted some pressure on the dollar-denominated commodity. The safe-haven precious metal was further pressured by the upbeat US economic outlook, thanks to the impressive pace of coronavirus vaccinations and US President Joe Biden's spending plan. Read more...

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FXStreet

EUR/USD remains well bid near 1.1650

EUR/USD has recovered part of the recent steep pullback, approaching three-day highs around 1.1650 due to the renewed weakness of the Greenback. Meanwhile, investors continue to evaluate President Trump's recent threats to impose new tariffs on several EU countries.

GBP/USD meets some resistance near 1.3440

GBP/USD reverses the earlier pullback and manages to pick up strong upside traction on Monday, climbing to as high as the 1.3440 zone. Cable’s sharp bounce comes in response to the fresh selling interest hurting the Greenback amid the resumption of tariff jitters.

Gold edges higher above $4,650 as Trump tariffs spark safe-haven demand

Gold price edges higher to near $4,670 during the early Asian session on Tuesday. The precious metal is set to hit a fresh record high as traders flock to safe-haven assets amid a persistent geopolitical and economic outlook.

Ethereum bounces off key trendline as retailers distribute, network activity booms

Ethereum saw mixed sentiments in its on-chain activity over the past week. While whales accumulated amid a surge in network activity, retailers distributed as escalating geopolitical tensions over Greenland eventually pulled down prices.

When tariffs become ammunition and capital becomes the battlefield

Markets opened the week like a risk engine hitting a pothole at speed. Equities stepped back, gold vaulted to fresh highs, Treasuries caught a bid, and the dollar, outside of havens, took on a soft bid. This was not a data-driven wobble or a valuation purge.

Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe in a freefall, echoing Bitcoin’s drop

Meme coins, such as Dogecoin, Shiba Inu, and Pepe, extend the decline from last week, with a roughly 3% drop on Monday. The meme coins trade below the crucial moving averages, aiming for the immediate support to potentially reset the momentum.