Gold Price News and Forecast: XAU/USD price has fallen 1.5% on Thursday

FXStreet Team FXStreet

Gold Price Analysis: Elliott Wave analysis shows that prices could be heading towards $1600

There has been lots going on over the past few sessions with both the ECB and Fed giving us updates. Without going into a long-winded rant about all money being worthless in this environment, it seems that both of the worlds biggest central banks have confirmed their relative forms of QE are here to stay for as long as they are needed. This also includes previous rounds which are going to be reinvested. Despite this fact, the markets seem to be latching on the theme that the economies are going to reopen soon but the indices are struggling today. A mixture of month-end flows and a worse than expected US jobless claims number (3,839K vs Exp 3,500K) sent equities tumbling with all major EU and US bourses trading lower despite a fairly healthy Asian session.

Gold in the balance of COVID-19 waves of global resurgence

Gold is currently trading at $1,684.28, -1.55% having travelled between a high of $1,721.94 to a low of $1,682.07. The pressure is on as market anxiety over COVID-19 started to dissipate in recent days on the notion that nations and some US states will be getting business back to work.

The risk profile in financial and commodity markets has taken a turn for the better of late and gold is suffering as a consequence. The precious metal has been unable to get above the 1750s and bulls have run out of steam.

GBP/USD dips below 1.3350 as USD demand surges

GBP/USD extends its intraday slide and closes in on 1.3300 in the American session on Thursday. The pair remains under heavy bearish pressure as the US Dollar (USD) benefits from the risk-averse market atmosphere amid escalating geopolitical tensions in the Middle East.

EUR/USD drops toward 1.1350 post ECB decision

EUR/USD remains under heavy bearish pressure in the second half of the day on Thursday and trades at its lowest level in three weeks below 1.1370. The ECB's cautious tone on policy tightening in the near future and the broad-based US Dollar (USD) strength on risk-aversion drag the pair lower.

Gold trims gains, dips to $4,050

Gold keeps retreating on Thursday, trading well below $4,100 early in the American session. US crude oil prices climb to a fresh six-week high above $90 amid a further escalation of tensions between the US and Iran, fueling inflation fears and bolstering US Fed interest rate hike expectations. Hawkish Fed bets weigh negatively on the yieldless bullion.

XRP Price Forecast: XRP trades sideways as Ripple targets 10 million agentic AI transactions

Ripple (XRP) is losing momentum on Thursday, albeit gradually, trading above $1.13. The remittance token tagged a weekly high of $1.16 on Tuesday, with gains mainly attributed to developments on the United States (US) Clarity Act and recent signs that inflation is easing in the world’s largest economy.

Bitcoin falls as surging Oil prices revive inflation concerns

Bitcoin extends its correction, trading below $65,800 after a modest decline in the previous day. Despite BTC’s fading strength, US-listed spot Bitcoin Exchange Traded Funds continued to attract institutional inflows on Wednesday, marking the seventh consecutive day of gains.

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.