Gold Price News and Forecast: XAU/USD edges sideways; negative pressures dwindle [Video]

FXStreet Team FXStreet

Will gold continue to rally in Q4, 2020? [Video]

Gold has been unstoppable throughout 2020, with the precious metal surging over 35% this year.

Gold starts the fourth quarter on a strong note after an historic announcement by the Fed to make significant shifts to its policy framework. Read More...

Technical analysis – Gold edges sideways; negative pressures dwindle

Gold has bounced on the Ichimoku cloud’s upper surface, while the simple moving averages (SMAs) converge slightly beneath. The recent weakness from the 1,992 barrier appears to be receding as the Ichimoku lines stabilise. Nonetheless, the SMAs and the Ichimoku cloud continue to dictate a neutral demeanour that has grasped the commodity for the last two weeks.

The oscillators suggest mixed signals of directional momentum. The MACD is weakening in the positive region, slipping below its red signal line. Yet, the RSI has bounced on its 50 threshold, while the stochastic oscillator has turned bullish, both promoting improvement in positive momentum. Read More...

Gold: Bulls need a break above 1991 for a buy signal

Gold Spot initially topped exactly at the selling opportunity at 1970/75 for the 3rd or 4th time. This levels has offered great profits over the past week. However I did warn that this was more likely to break vent yesterday...and exactly as predicted we broke higher through 1980 for a clear buy signal.

However gains could not be sustained & we now appear to be forming a triangle consolidation pattern. Read More...

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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.