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.

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.