Gold Price News and Forecast: XAU/USD is increasingly recognized as a mainstream investment [Video]

FXStreet Team FXStreet

Gold eyes key levels for fresh direction; bias skewed to the upside [Video]

Gold opened with weak momentum on Monday in the daily chart, hovering slightly below the new almost eight-year peak registered last week.

Nevertheless, the short-term bias is still skewed to the upside. Although frail, the RSI is holding comfortably above its 50 neutral level, while the MACD, despite stabilizing, remains within the positive area and marginally above its red signal line. Meanwhile, the price itself continues to trade above the upward-sloping 20-day simple moving average (SMA) and within the upper bullish Bollinger band area, keeping hopes of further improvement in the market alive for now. Read More...

Gold is increasingly recognized as a mainstream investment

Traders are enjoying a long 4th July holiday weekend as the U.S. stock, bond and commodity markets, including the NYSE and NASDAQ, were closed on Friday in observance of Independence Day. U.S. commodities markets, including gold and oil futures, as well as the bond market also were closed for trading Friday.

Meanwhile today’s futures of the S&P 500 and Dow Jones Industrial are down by less than a half percent, after the indexes continued advancing on Thursday in the wake of a stronger-than-expected U.S. jobs report. Read More...

Gold: We could be looking at a significant bull trap

Gold Spot I am still concerned we have hit a short term in severely overbought conditions as we hold important trend line resistance. We bottomed exactly at the best support at 1761/58 & topped exactly at strong resistance at 1778/82. Shorts need stops above 1800.

Silver Spot sideways but again, risks could be to the downside. Read More...

Author

FXStreet Team

FXStreet

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD drifts lower heading into NFP range

GBP/USD edged lower by 0.2% on Thursday, settling close to 1.3350 in a strained trading session that kept the pair pinned near three-month lows. Price briefly recovered earlier in the day on reports that Iran had indirectly signaled openness to talks with the CIA, but the bounce faded as Israeli officials reportedly advised Washington to disregard the overture.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.