Gold Price News and Forecast: XAU/USD has recaptured the $1,600 level

FXStreet Team FXStreet

Gold Price Analysis: Recaptures $1,600 amid Fed's coronavirus QE, levels to watch

Gold is bouncing back thanks to Fed money printing. The Federal Reserve announced a $500 billion (half a trillion dollars) of injections into bonds across a variety of maturities amid extraordinary conditions in markets following the coronavirus crisis.

Gold – which had been suffering amid a broad sell-off – has recaptured the $1,600 level. While the yellow metal tended to be a safe-haven that advanced in times of trouble, the generalized sell-off weighed also on XAU/USD.

Global Pandemic Is On and Stock Bears Roar. Will Gold Make a Move?

On Wednesday, WHO declared the current outbreak of COVID-19 as a global pandemic, while the US stock market entered a bear market as it had fallen over 20% from its peak. What’s next in store for the yellow metal?

EUR/USD rises above 1.1600 as EU-US tensions escalate

EUR/USD gathers bullish momentum and climbs toward 1.1650 on Monday. The US Dollar faces some selling after US President Donald Trump threatened escalating tariffs on eight European nations that have opposed his plan to take Greenland. US stock and bond markets will remain closed in observance of Martin Luther King Jr. Day.

GBP/USD climbs above 1.3400 on broad USD weakness

GBP/USD gains traction following a bearish opening to the week and trades slightly above 1.3400 on Monday. The US Dollar weakens against the Pound Sterling as markets react to US President Donald Trump's latest tariff threats against Europe over ‌Greenland.

Gold hits record-high on Trump's tariff threats, geopolitical risks

Gold caught aggressive bids at the start of a new week and notched a new record-high of $4,690 before correcting lower. US President Donald Trump's threat to impose tariffs on eight European countries that opposed his plan to acquire Greenland causes markets to adopt a cautious stance, boosting XAU/USD.

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.

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.