Gold Price News and Forecast: XAU/USD has room for extra gains

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD remains poised to test $1850 amid weaker USD, golden cross

Gold (XAU/USD) gains further ground heading into the European open, sitting at the highest levels in a week at $1837.

The bulls continue to cheer the renewal of the US fiscal stimulus talks, with a much larger than the previously proposed aid package likely on the table for Congress. Read more...

Gold Futures: Room for extra gains

According to flash data for gold futures markets from CME Group, open interest rose by more than 5K contracts on Wednesday after two consecutive daily drops. On the other hand, volume extended the downtrend and shrunk by around 15.6K contracts.

Gold now looks to $1,850/oz

Prices of the ounce troy of gold edged higher on Wednesday, extending the bounce off monthly lows near $1,760 (November 30) amidst increasing open interest. That said, the yellow metal now targets the mid-$1,800s, or September's lows. This area is reinforced by the proximity of the 21-day SMA ($1,854). Read more...

Gold Price Analysis: XAU/USD climbs to multi-day tops, just above $1840 level

Gold edged higher through the early European session and climbed to eight-day tops, around the $1845 region in the last hour.

The precious metal built on this week's goodish rebound from the $1764 region – the lowest level since early July – and continued scaling higher for the third consecutive session on Thursday. The uptick was exclusively sponsored by the prevalent selling bias surrounding the US dollar, which tends to benefit dollar-denominated commodities, including gold. Read more...

XAU/USD

Overview
Today last price	1838.43
Today Daily Change	10.03
Today Daily Change %	0.55
Today daily open	1828.4

Trends
Daily SMA20	1855.68
Daily SMA50	1880.4
Daily SMA100	1910.27
Daily SMA200	1801.63

Levels
Previous Daily High	1832.52
Previous Daily Low	1807.55
Previous Weekly High	1876.14
Previous Weekly Low	1774.4
Previous Monthly High	1965.58
Previous Monthly Low	1764.6
Daily Fibonacci 38.2%	1822.98
Daily Fibonacci 61.8%	1817.09
Daily Pivot Point S1	1813.13
Daily Pivot Point S2	1797.85
Daily Pivot Point S3	1788.16
Daily Pivot Point R1	1838.1
Daily Pivot Point R2	1847.79
Daily Pivot Point R3	1863.07

Author

FXStreet Team

FXStreet

EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold retains positive bias amid sustained safe-haven flows and modest USD pullback

Gold maintains its offered tone through the first half of the European session, though it lacks follow-through and remains below the $5,200 mark. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

Bitcoin, Ethereum and Ripple struggle for direction as consolidation persists

Bitcoin, Ethereum and Ripple prices trade with a cautious tone at the time of writing on Wednesday as upside momentum continues to fade across the broader crypto market. BTC remains within a parallel channel, ETH struggles below key resistance, while XRP remains fragile within a descending channel. These top three cryptocurrencies by market capitalization continue to struggle to establish a directional bias amid the consolidation phase.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.