Gold Price News and Forecast: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD nears $1,900 hurdle as President Trump signs coronavirus stimulus bill

Gold, widely touted as a hedge against inflation and currency devaluation, is cheering the US President Trump's decision to sign the critical coronavirus relief and spending package.

The package includes direct payments to qualifying Americans worth up to $600 per adult and child, a boost in weekly unemployment benefits, and funds for small-business aid and vaccine distribution, according to nrp.org.

XAU/USD

Overview
Today last price	1894.8
Today Daily Change	15.42
Today Daily Change %	0.82
Today daily open	1879.38

Trends
Daily SMA20	1851.38
Daily SMA50	1868.04
Daily SMA100	1897.69
Daily SMA200	1824.01

Levels
Previous Daily High	1879.38
Previous Daily Low	1879.38
Previous Weekly High	1906.87
Previous Weekly Low	1855.28
Previous Monthly High	1965.58
Previous Monthly Low	1764.6
Daily Fibonacci 38.2%	1879.38
Daily Fibonacci 61.8%	1879.38
Daily Pivot Point S1	1879.38
Daily Pivot Point S2	1879.38
Daily Pivot Point S3	1879.38
Daily Pivot Point R1	1879.38
Daily Pivot Point R2	1879.38
Daily Pivot Point R3	1879.38

Gold Price Analysis: XAU/USD eyes monthly top near $1,907 as Trump signs covid aid package – Confluence Detector

Gold prices stay positive near a one-week high, currently up 0.80% while easing from the intraday high of $1,900.35 to $1,895, during early Monday. In doing so, the yellow metal extends the last Wednesday’s recovery moves from $1,859 toward the monthly top as the market’s sentiment improve on US President Donald Trump’s signing of the coronavirus (COVID-19) aid package.

Read more ...

Author

FXStreet Team

FXStreet

EUR/USD steadies near 1.1650 ahead of US Nonfarm Payrolls

EUR/USD holds ground after five days of losses, trading around 1.1650 during the Asian hours on Friday. Traders remain cautious ahead of the US Nonfarm Payrolls report, which is expected to offer further insight into labor market conditions and the Federal Reserve’s policy outlook. December NFP is forecast to show job gains of 60,000, down from 64,000 in November.

GBP/USD: Further weakness could challenge 1.3400

GBP/USD remains under unabated selling pressure on Thursday, slipping to fresh three-day lows around 1.3415 in response to further improvement in the sentiment surrounding the Greenback ahead of Friday’s key NFP data.

Gold defends $4,450, looks to the crucial US NFP report

Gold struggles to capitalize on the previous day's goodish move up from the vicinity of the $4,400 mark and attracts some sellers while defending $4,450 in the Asian session on Friday. The critical US employment details will offer more cues about the Fed's rate-cut path, which, in turn, will influence the US Dollar price dynamics and provide a fresh impetus to the non-yielding bullion.

Forecasts for Payrolls are all over the place

Yesterday’s data put the kybosh on the idea the Fed needs to cut rates fairly urgently to protect the labor market. The jobs component of the ISM services index was nicely over 50, and that rising JOLTS voluntary quits rate also points to no real heartache in labor.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

XRP slides as institutional and retail demand falters

Ripple is trading down for the third consecutive day on Thursday amid escalating volatility in the cyrptocurrency market. After peaking at $2.41 on Tuesday, its highest print since November 14 amid the early-year rally, XRP has quickly ran into aggressive profit-taking.