Gold Price News and Forecast: XAU/USD remains largely unchanged

FXStreet Team FXStreet

XAU/USD precious metal steady as investor risk appetite likely unchanged post the Fed

As expected the Fed left rates unchanged and the accompanying statement did little to surprise investors. The doveish tone continues as the Fed says the economy has strengthened and inflation effects are likely transitory. The Fed says indicators of economic activity are improving and employment has strengthened but says sectors most affected by the pandemic remain weak but have shown improvement.

Calm down, it‘s a shallow Gold correction

The outlook for gold deteriorated during the second half of yesterday‘s trading as copper gave up some of its gains while long-dated Treasuries plunged. And overnight, gold felt obliged to fill the void, and went $10 down. The situation is far from bleak – gold is nibbling at the bearish gap, but it‘s the miners that are providing more than a glimmer of hope.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.