Gold Price News and Forecast: XAU/USD regains $1,700 as US Senate passes stimulus

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD regains $1,700 as US Senate passes stimulus

Gold begins the week’s trading on a front-foot while crossing the $1,700 threshold, currently around $1,713, amid the initial Asian session on Monday. With its latest run-up in prices, the yellow metal seems to have cheered the US Senate’s passage of the coronavirus (COVID-19) aid package, as well as responding to the from China and concerning Saudi Arabia.

XAG/USD

Overview
Today last price	25.54
Today Daily Change	0.36
Today Daily Change %	1.43
Today daily open	25.18

Trends
Daily SMA20	26.99
Daily SMA50	26.49
Daily SMA100	25.43
Daily SMA200	24.16

Levels
Previous Daily High	25.46
Previous Daily Low	24.83
Previous Weekly High	27.08
Previous Weekly Low	24.83
Previous Monthly High	30.07
Previous Monthly Low	25.9
Daily Fibonacci 38.2%	25.07
Daily Fibonacci 61.8%	25.22
Daily Pivot Point S1	24.85
Daily Pivot Point S2	24.52
Daily Pivot Point S3	24.22
Daily Pivot Point R1	25.48
Daily Pivot Point R2	25.79
Daily Pivot Point R3	26.12

Gold Weekly Forecast: XAU/USD remains vulnerable unless it manages to reclaim $1,760

The XAU/USD pair staged a technical rebound at the start of the week and advanced to $1,760 as the US Treasury bond yields continued to pull away from the yearly highs set in the previous week. However, the poor performance of major equity indexes helped the USD preserve its strength and made it difficult for XAU/USD to edge higher.

EUR/USD eyes nine-day EMA barrier after rebounding from 1.1600

EUR/USD gains ground after registering modest losses in the previous session, trading around 1.1620 during the Asian hours on Friday. The technical analysis of the daily chart suggests an ongoing bearish bias as the pair remains within the descending channel pattern.

GBP/USD: Pound Sterling ticks up against US Dollar in countdown to US NFP

The Pound Sterling trades marginally higher to near 1.3365 against the US Dollar during the Asian trading session on Friday. The GBP/USD pair edges up as the US Dollar ticks down ahead of the United States Nonfarm Payrolls data for February, which will be published at 13:30 GMT.

Gold awaits US Nonfarm Payrolls for a clear directional impetus

Gold rebounds above $5,100 early Friday after testing the $5,050 level amid global sell-off. The US Dollar pulls back as profit-taking creeps in ahead of US labor data. For February. 21-day SMA holds amid bullish RSI; a daily closing above 61.8% Fibo is critical for Gold buyers.

Ethereum pull in $169M as validators pile in to stake ETH

US spot Ethereum exchange-traded funds recorded $169 million in net inflows on Wednesday, marking the largest daily intake in two months, according to SoSoValue data. The rise in inflows signals renewed institutional interest in Ethereum amid broader market volatility.

The market compass is pointing at a barrel of Oil

The Asian open is arriving with equities leaning the wrong way, and the reason is not complicated. The market’s compass needle has snapped firmly toward crude. In this tape, oil is not just another input price; it is the gravitational center around which every asset class is orbiting.

Ripple tests recovery strength amid steady ETF inflows, growing retail interest

Ripple (XRP) continues to demonstrate notable resilience as the cryptocurrency market navigates the persistent war in the Middle East after the United States (US) and Israel attacked Iran on Saturday.