Gold Price News and Forecast: XAU/USD mildly heavy above $1,700 amid less active markets in Asia

FXStreet Team FXStreet

Gold: Mildly heavy above $1,700 amid less active markets in Asia

Gold prices register 0.30% loss on a day while taking rounds to $1,723 as the markets in Tokyo open for trading on Monday. The bullion prices remain under pressure off-lat amid a lack of major catalysts.

The US coronavirus task force briefings have been canceled for Saturday and Sunday whereas the economic calendar in Asia also remains quiet. Recently, US President Donald Trump witnessed criticism for his suggestion to use disinfectant injections as a trial for the virus treatment. Even so, the Republican leader’s idea of opening up the economy sooner than later guards the risks.

XAU/USD

Overview
Today last price	1722.82
Today Daily Change	-5.82
Today Daily Change %	-0.34
Today daily open	1728.64

Trends
Daily SMA20	1669.97
Daily SMA50	1627.82
Daily SMA100	1581.03
Daily SMA200	1533.99

Levels
Previous Daily High	1736.52
Previous Daily Low	1710.68
Previous Weekly High	1739
Previous Weekly Low	1661.18
Previous Monthly High	1703.27
Previous Monthly Low	1451.3
Daily Fibonacci 38.2%	1720.55
Daily Fibonacci 61.8%	1726.65
Daily Pivot Point S1	1714.04
Daily Pivot Point S2	1699.44
Daily Pivot Point S3	1688.2
Daily Pivot Point R1	1739.88
Daily Pivot Point R2	1751.12
Daily Pivot Point R3	1765.72

Applied Elliott Wave Webinar: Crude, gold, SPX, Nifty 50, Reliance [Video]

In this webinar I have discussed practical application of Elliott Wave using various chart including Crude Oil, Gold, SPX, Nifty 50, Reliance (NSE Stock). Possible trading strategies using Elliott Wave for April and May 2020 have also been discussed wherever applicable.

AUD/USD remains above 0.7200 after China's trade data

AUD/USD sits above 0.7200 in the Asian session on Tuesday, near its highest level since May 14. The US Dollar stays under pressure as a rallying Japanese Yen outweighs support from hawkish Fed bets and geopolitical tensions. This, along with firming expectations for another RBA rate hike later this month, acts as a tailwind for the Aussie. However, mixed China trade balance data keep the pair restricted.

USD/JPY rebounds above 154.00 as markets assess BoJ outlook

USD/JPY rebounds from the six-month low it touched below 153.00 earlier in the day and trades above 154.00 in the second half of the day. Nevertheless, the upside attempts resemble technical corrections for now as Japan's upbeat wage growth data and Q2 GDP revision cement bets on a BoJ rate hike next week and continue to support the Japanese Yen.

Gold reverses early gains as US Dollar rebounds, Oil prices rise

Gold (XAU/USD) struggles to hold early gains and reverses course on Tuesday as a modest rebound in the US Dollar (USD) and rising Oil prices weigh on the precious metal. At the time of writing, XAU/USD trades around $4,400 after reaching an intraday high near $4,443.

Ripple and Stellar outlook: Hold bullish bias above EMAs as derivatives back upside

Ripple (XRP) and Stellar (XLM) hold above the key support zones on Tuesday, hinting at an upside move. Derivatives metrics further support the recovery, with both altcoins showing positive funding rates and rising long positions. Derivatives data shows a bullish tilt among XRP and XLM traders.

Europe in focus: September 2026

Six major net contributors demanded substantial cuts to the European Commission’s proposed 2028–2034 EU budget. Germany, Denmark, the Netherlands, Austria, Finland and Sweden issued a joint position on 27 August calling for the nearly €2 trillion proposal to be reduced by several hundred billion euros and rejecting additional common EU borrowing.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.