Gold Price News and Forecast: XAU/USD next resistance awaits at $1,963

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD bounces with stocks, levels to watch – Confluence Detector

Gold has been on the rise, trading above $1,940 after struggling on lower ground. The precious metal is rising alongside stock markets. Investors are shrugging off concerns that a coronavirus vaccine may be delayed – AstraZeneca suspended its Phase 3 trial.

XAU/USD could be benefiting from hopes that Republicans and Democrats strike a deal and provide more relief. That may be due to worsening polling figures for President Donald Trump.

Gold holding At Ichimoku Cloud support

Gold’s daily ichimoku chart suggests some support for the precious metal. We can see that price is looking to hold above the green cloud (red ellipse) and that the black base line is moving sideways (orange ellipse) and not following price down. As long as this holds it is likely that gold has pulled back and not reversed direction.

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low. The major currency pair is under pressure as surging oil prices due to the United States-Israel war with Iran have increased the risks of higher inflation for the Old Continent.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold stays bullish as Iran war continues to spur safe-haven flows

Gold is finding renewed bids in Asian trades on Tuesday, making another attempt to regain the $5,400 level amid persistent demand for safe-haven assets as the Iran war extends. A softer risk tone remains in play as US President Donald Trump continues to threaten deeper escalation to the ongoing war with Iran, warning that a “big wave” is yet to come.

Top Crypto Gainers: Near Protocol, Virtuals Protocol, and Morpho lead market recovery

Near Protocol, Virtuals Protocol, and Morpho are leading the market recovery with double-digit gains over the last 24 hours. Technically, NEAR extends the breakout of the falling channel pattern, VIRTUAL holds above the 50-day EMA, while MORPHO tests a crucial resistance.

The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

Grass 20% bullish breakout defies broader market weakness

Grass (GRASS) is edging up above $0.30 at the time of writing on Monday. The token’s notable 20% intraday surge stands out amid heightened volatility in the broader crypto market.