Gold Price News and Forecast: XAU/USD struggle to keep the previous run-up

FXStreet Team FXStreet

Gold Price Analysis: XAU/USD battles 21-day SMA to keep one-week high around $1,950

Gold prices struggle to keep the previous run-up while declining to $1,945.80 during the early Thursday morning in Asia. The yellow metal rose to the highest since September 03 on Wednesday before taking a U-turn from $1,950.90. While market sentiment remains mostly positive, a lack of catalysts and the pre-ECB cautiousness could be considered as reasons for the bullion’s recent pullback.

XAU/USD

Overview
Today last price	1946.87
Today Daily Change	0.34
Today Daily Change %	0.02
Today daily open	1946.53

Trends
Daily SMA20	1948.01
Daily SMA50	1912.93
Daily SMA100	1819.8
Daily SMA200	1697.87

Levels
Previous Daily High	1950.9
Previous Daily Low	1920.16
Previous Weekly High	1992.42
Previous Weekly Low	1916.42
Previous Monthly High	2075.32
Previous Monthly Low	1863.24
Daily Fibonacci 38.2%	1939.16
Daily Fibonacci 61.8%	1931.9
Daily Pivot Point S1	1927.49
Daily Pivot Point S2	1908.46
Daily Pivot Point S3	1896.75
Daily Pivot Point R1	1958.23
Daily Pivot Point R2	1969.94
Daily Pivot Point R3	1988.97

XAU/USD: Short-term trend reversal at mid-term key support

The price of the precious metal did on Tuesday retrace back to the mid-term key support we already talked about on the 26th of August. The re-test of the key support was followed a strong bullish reaction and short-term trend reversal.

The short-term trend has clearly reversed with the price action printing a new series of higher highs and higher lows and a bullish impulsive and corrective sequence, indicating that bulls are in control short-term. If bulls can remain in control, a bullish continuation towards $1970 and $2000 is likely. Buyers looking to go long the precious metal can look for weak/corrective pullbacks to get long.

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.