Gold Price News and Forecast: XAU/USD – Limited risk of a steeper decline

FXStreet Team FXStreet

Gold closer to $1.600 again while risk-on assets are on the run

The gold futures lost 3.17% on Thursday, as it fell below $1,600 level and reached the daily low of $1,560.40. Yellow metal fell the lowest since early February following financial markets liquidity squeeze. Earlier in the week, the market bounced off Monday's new medium-term high of $1,704.30. Two weeks ago the gold price collapsed to the low of $1,564 despite an ongoing coronavirus scare. However, the gold price retraced all of the decline last week, as virus fears reappeared. Yesterday it has retraced the advance again. Read more...

Gold: Limited risk of a steeper decline

Gold is ending the week with losses despite risk-off dominated the headlines. Spot gold recovered on Friday but held below the 38.2% retracement of the weekly slide, Valeria Bednarik from FXStreet informs.

Key quotes

“Spot gold is trading below a critical area ahead of the close, as it lost the battle with a long-term major Fibonacci level, the 61.8% retracement of the 2011/2015 decline, and also the 23.6% retracement of its weekly decline, both levels just shy of 1,590.00.” Read more...

XAU/USD Analysis: Touched 1,560.00

On Thursday, the XAU/USD exchange rate dropped to the 1,560.00 level. During today's morning, the rate was trading in the 1,580.00 area.

On the one hand, it is likely that yellow metal could depreciate against the US Dollar in the nearest future. In this case the price for gold could decline below 1,560.00. Read more...

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

GBP/USD extends the drop to 1.3360

GBP/USD builds on Monday’s decline and briefly clinches five-day lows near 1.3360 on Tuesday. Cable’s extra pullback follows the better tone in the Greenback as uncertainty in the Middle East prompts investors to adopt a cautious stance. Meanwhile, an apathetic UK labour market report also collaborates with the selling pressure on the British Pound.

EUR/USD looks inconclusive near 1.1420

EUR/USD trades in a tight range in the low 1.1400s on Tuesday, struggling to gain momentum amid an equally absence of clear direction in the US Dollar (USD). Uncertainty surrounding the US-Iran conflict is capping the pair’s upside, while traders avoid taking significant positions ahead of Thursday’s ECB gathering.

Gold shows signs of life; focus is back to $4,100

Gold gains ground on Tuesday, reversing Monday’s pessimism and advancing toward the $4,100 mark per troy ounce. Nevertheless, uncertainty surrounding the Middle East conflict and rising expectations for a hawkish Fed policy outlook are expected to limit the precious metal’s bullish momentum in the near term.

XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

The Iranian war has again risen

The Iranian war has again risen to the top of the economics factor list. There is no end in sight. Intelligence experts say the current level of offense/retaliation will not change minds in Tehran, while in Washington, Trump fears all-out war, which would mean boots on the ground.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.