Gold Price News and Forecast: XAU/USD march-on above a key support structure

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD bulls stay hopeful above $1,800 despite Wednesday’s spinning top

Gold prices ease from one week high to $1,810 amid early Thursday morning in Asia. The bullion marked consecutive third positive daily closing the previous day. However, sluggish moves portray a “Spinning Top” candlestick formation suggesting traders’ indecision. The pattern joins the quote’s recent failures to refresh monthly high in suggesting the underlying weakness of the bullish momentum.

As a result, the bears could seek fresh entries targeting $1,800-$1,798 support area comprising 10-day EMA and an upward sloping trend line from June 15. However, any further weakness by the yellow metal will divert the bears towards July 01 top near $1,789.

Read more ...

Gold prices march-on above a key support structure as inflation expectations ramp-up

Gold has made a mark on the $1,800 level, holding the support structure above $1,786/90 on a retest and pulling in commitments from the bulls. Inflation expectations and uncertainties remain the core fundamentals of the outlook.

We have seen risk markets improved on the back of promising vaccine results which tempered some of the bullishness out of gold momentarily. Meanwhile, US equities are a strong focus for this week considering the bank's earnings.

Read more ...

Author

FXStreet Team

FXStreet

EUR/USD ticks higher to near 1.1800 ahead of flash German inflation data

The EUR/USD pair trades marginally higher to near 1.1810 in the late Asian trading session on Friday, ahead of the release of preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles to lure buyers amid UK political drama, BoE easing bias

The GBP/USD pair struggles to build on the overnight modest bounce from the 1.3445 area, or the weekly low, and oscillates in a narrow band during the Asian session on Friday. Spot prices currently trade just below the 1.3500 psychological mark, nearly unchanged for the day, and seem vulnerable to slide further.

Gold sticks to positive bias as safe-haven demand persists; $5,200 holds the key for bulls

Gold trades with positive bias for the third straight day on Friday, with bulls still awaiting sustained strength and acceptance above the $5,200 mark before positioning for any further gains. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.