Gold Price News and Forecast: XAU/USD surges as the Fed announces unlimited bond-buying scheme

FXStreet Team FXStreet

Gold Price Analysis: QE unlimited boosts XAU/USD, nearing $1630/oz

The metal is surging from the 2020 lows as the bulls are challenging the 1630 resistance level while above the main SMAs on the four-hour chart. A break above the above-mentioned level can lead to further gains toward the 1660 and 1700 levels. Support can be expected near the 1590 and 1470 price levels.

Commodity Report: Gold Price Forecast: 24 March 2020 [Video]

Gold extended a surge above $1,600 an ounce on Tuesday after the Federal Reserve took unprecedented measures to protect the U.S. economy from the coronavirus shock, with Goldman Sachs Group Inc. saying bullion’s probably at an inflection point and it is time to buy.

GBP/USD hovers around 1.3300 as US Dollar struggles ahead of Fed

GBP/USD defends minor bids around 1.3300 in the European trading hours on Wednesday. The pair stays supported as the US Dollar struggles ahead of the Federal Reserve’s upcoming policy decision. However, the upside appears capped by renewed escalation in the Middle East and surging Oil prices.

EUR/USD keeps range around 1.1400 ahead of Fed policy decision

EUR/USD oscillates in a narrow range around 1.1400 in European trading on Wednesday. The pair treads water as the US Dollar struggles, despite risk aversion. Investors keenly await the Federal Reserve’s upcoming policy decision for fresh directional impetus.

Gold extends recovery to $4,050, with eyes on FOMC

Gold builds on its steady intraday recovery from an over one-week low and climbs closer to the $4,050 level in the European session on Wednesday. A modest US Dollar downtick supports the commodity, though the upside potential seems limited ahead of the FOMC policy announcements.

Bitcoin slips below support, Ethereum and XRP flash bearish signals

Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.

South Korean Won nears four-month highs despite the KOSPI index selloff

The South Korean Won (KRW) extends gains for the second consecutive day against the US Dollar (USD), and is set for a 6.5% monthly rally. Strong South Korean macroeconomic data and market expectations of monetary tightening by the Bank of Korea have offset the KOSPI Index’s sell-off.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.