Gold Price News and Forecast: XAU/USD looks to capitalize on safe-haven flows amid Wall Street chaos

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD fills the gap above $1,850 inside immediate ascending triangle

Gold drops to $1,851.39 while trimming the gains to 0.50% during Monday’s Asian session. In doing so, the yellow metal stays inside a short-term ascending triangle.

Given the bearish MACD favoring the quote’s further downside, gold sellers will wait for a clear break of the triangle’s support, currently around $1,840, for fresh entries. Following that, the previous week’s low near $1,830 and January’s low near $1,802, also the $1,800 threshold, can entertain the commodity sellers.

Gold Weekly Forecast: XAU/USD looks to capitalize on safe-haven flows amid Wall Street chaos

After gaining more than 1% in the previous week, the XAU/USD pair struggled to preserve its bullish momentum and edged lower during the first half of the week. Although the pair staged a rebound and rose above $1,860 on Thursday from the weekly low it set at $1,831 on Wednesday, it couldn't close the day in the positive territory. With buyers remaining in control on Friday, the pair closed the week virtually flat slightly above $1,850.

AUD/USD consolidates gains above 0.700; focus on CPI data

AUD/USD has regained composure on Tuesday, reversing the previous day’s pullback and further extending its move past the key 0.7000 yardstick. The pair’s recovery has come despite another solid day for the Greenback ahead of the FOMC gathering. Moving forward, the release of inflation figures will be the main focus in Oz on Wednesday.

USD/JPY sticks to modest gains above 157.50 as traders await Fed, BoJ meetings

USD/JPY attracts buyers for the third straight day, recovering further from a one-month low ahead of Wednesday’s FOMC decision and the BoJ policy update on Friday. Meanwhile, expectations that the BoJ may hold off on aggressive rate hikes weigh on the Japanese Yen, and the US Dollar advances to a nearly two-week high, supporting the currency pair.

Gold holds above $4,000 as traders brace for Fed interest rate decision

Gold edges higher during American trading hours on Tuesday after trading in negative territory earlier in the day. A slight decline in Oil prices offers some relief, although a firmer USD limits the upside as traders await the Fed’s monetary policy announcement on Wednesday.

Australia CPI set to climb in September, fueling RBA rate-hike bets

The Australian Bureau of Statistics (ABS) will publish the September Consumer Price Index (CPI) on Wednesday at 00:30 GMT. The report is expected to show that inflation rose 4.2% from a year earlier, higher than the 4% posted in August. The monthly CPI is forecast at 0.7% following the 0.4% print from the previous month.

What can we expect from the RBNZ monetary policy decision?

On Wednesday, October 28 at 01:00 GMT, the Reserve Bank of New Zealand, led by Governor Anna Breman, is expected to raise the Overnight Cash Rate by 25 basis points, from 2.75% to 3%, as money markets price in a 100% chance. This would be the third-rate hike by the RBNZ, while the odds for another hike in December are nearly 50%.

Anthropic pledged $270 billion to Amazon, Google, and Microsoft. Here's who actually gets paid

Anthropic owes Amazon, Google, and Microsoft at least $269.4 billion for computing power, even if it uses less. All three sell its models and handle its billing, and Amazon and Google own stakes and lend it money, so they get paid regardless of how the IPO goes. The Dario Amodei-led Anthropic filed its initial public offering (IPO) on Monday, seeking a listing on the Nasdaq under the ticker ANT.