Gold Price News and Forecast: XAU/USD correction on the cards towards $1,830

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD stays en route $1,777 on NFP day – Confluence Detector

Gold consolidates the heaviest losses in over a month around $1,795 during early Friday. The yellow metal dropped to a nine-week low the previous day before recovering from $1,785. While the broad US dollar gains remain on the table, which has been weighing on gold prices off-late, the pre-NFP trading lull seems to challenge the commodity trading by press time.

Gold Price Analysis: XAU/USD correction on the cards towards $1,830

Gold is under pressure as the US dollar catches a bid in a risk-on environment ahead of this week's Nonfarm Payrolls even on Friday. However, there is scope for an upside correction and the following illustrates where the next trading opportunity could arise leading into the event. Gold is on the way to test the bull's commitments at monthly support.

GBP/USD drops to multi-month troughs near 1.3140

GBP/USD adds to Tuesday’s pullback and recedes to the lowest level since November 2025 near 1.3140. A firmer Greenback and continued political turmoil in the UK are keeping Cable under persistent pressure, with little sign of a meaningful recovery.

EUR/USD bounces off YTD lows around 1.1320

EUR/USD extends its decline on Wednesday, falling to fresh yearly lows near 1.1320. The pair remains on the defensive as the US Dollar continues to draw support from hawkish Fed expectations and uncertainty over the outcome of US-Iran peace negotiations.

Gold trims losses, back above $4,000

Gold retreats further and breaches below the key $4,000 mark per troy ounce for the first time since November 2025 on Wednesday. Higher-for-longer Fed expectations and a broadly firmer US Dollar continue to weigh on the precious metal, while uncertainty surrounding a potential US-Iran peace agreement has done little to revive demand for the safe haven space.

Crypto Today: Bitcoin, Ethereum, XRP trade under pressure as September Fed rate-hike odds increase

Bitcoin is trading between $62,000 and $63,000 at the time of writing on Wednesday, weighed down by headwinds stemming from macroeconomic uncertainty and geopolitical tensions in the Middle East.

5.90% to 5.45%: Why the Pound ignored the bond market’s relief rally

Keir Starmer resigned on Monday, and the Pound barely moved. That near-silence is the tell. Sterling's real driver these past four months has not been the prime minister, nor the left-leaning frontrunner lining up to replace him, but the long end of the gilt curve, which answers to a force no British politician controls.

Regime change: Inside Kevin Warsh's first move to make the Fed unreadable on purpose

The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.