Gold Price News and Forecast: XAU/USD seesaws between $1,710 and $1,705

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD wavers above $1,700, overlook US infrastructure spending plan

Despite cooling down from $1,715, gold treads water inside a $5 trading range, around $1,707 by the press time of the early Asian session on Thursday. The yellow metal marked a stellar recovery from $1,678 but a lack of enthusiasm in the market, despite a $2.25 trillion US infrastructure spending announcement, probes the bullion buyers. Also challenging the precious metal prices are the coronavirus (COVID-19) and vaccine updates, not to forget news linked to China.

XAG/USD

Overview
Today last price	24.44
Today Daily Change	0.41
Today Daily Change %	1.71
Today daily open	24.03

Trends
Daily SMA20	25.57
Daily SMA50	26.33
Daily SMA100	25.64
Daily SMA200	24.83

Levels
Previous Daily High	24.74
Previous Daily Low	23.86
Previous Weekly High	26.24
Previous Weekly Low	24.41
Previous Monthly High	30.07
Previous Monthly Low	25.9
Daily Fibonacci 38.2%	24.19
Daily Fibonacci 61.8%	24.4
Daily Pivot Point S1	23.68
Daily Pivot Point S2	23.33
Daily Pivot Point S3	22.8
Daily Pivot Point R1	24.56
Daily Pivot Point R2	25.08
Daily Pivot Point R3	25.43

Gold Price Analysis: Bears seeking a re-test of daily support

Further to the prior analysis made in Asia, Gold Price Analysis: Upside correction from daily support on the cards? the price has indeed corrected from daily support testing the 61.8% Fibonacci retracement level of the prior daily bearish impulse. At the time of writing, XAU/USD is trading some 1.50% higher at $1,710 after climbing from a low of 41,677.95 to a high of $1,715.28.

EUR/USD remains offered below 1.1600, seems vulnerable near multi-month low

The EUR/USD pair struggles to capitalize on the overnight bounce from the 1.1530 region, or the lowest level since November 2025, and lower for the third consecutive day on Wednesday. Spot prices slide back below the 1.1600 mark during the Asian session and seem vulnerable to slide further.

GBP/USD weakens to near 1.3300 as geopolitical risks bolster US Dollar

The GBP/USD pair attracts some sellers to around 1.3310 during the early European session on Wednesday. Escalating conflict in the Middle East triggers a "flight to safety," 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 sticks to intraday gains above $5,150; upside seems limited amid bullish USD

Gold preserves its modest intraday gains through the Asian session on Wednesday and currently trades just above the $5,150 level, up around 1.30% for the day. 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.

When rates start driving the bus through a war zone

The volatility regime itself is also changing character. EM carry trades thrive in calm markets. They suffocate in environments that resemble Buckaroo Banzai trading conditions, where headlines move faster than models. That is exactly the world investors are now trying to recalibrate to. Euro rate volatility had been remarkably subdued even while equities were wobbling. That stability is now being questioned, and once volatility leaks into rates it rarely stays contained. Indeed, carry trades love calm seas. War turns the ocean into white water.

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.