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.

EUR/USD extends advance toward 1.1700 amid USD weakness

EUR/USD extends its upside toward 1.1700 in the European session on Monday. The US Dollar wilts across the board amid renewed concerns over the US Federal Reserve's independence. Traders await the Eurozone Sentix Investor Confidence data for fresh directives.

GBP/USD rises further above 1.3450 as Fed concerns weigh on USD

GBP/USD builds on its recovery above 1.3450 in the European trading hours on Monday. The pair capitalizes on renewed US Dollar weakness, fuelled by fresh attacks from the US administration on Fed Chair Powell, which undermines the central bank's independence.

Gold consolidates below record highs at $4,600

Gold holds its retreat from fresh record highs of $4,601 in the European session on Monday. Reports that US President Donald Trump is weighing a series of potential military options in Iran fuel the risk of a further escalation of geopolitical tensions will likely keep Gold underpinned despite the latest profit-taking pullback.

Solana rebounds amid steady ETF inflows, privacy-focused hackathon

2026 economic and market outlook

As an aggregate, key economic indicators point towards the global economy growing further in out 2026 Economic and Market outlook. In particular, the G20 countries, which account for roughly 80% of the total global GDP are projected to grow by 2.9% next year.

Solana Price Forecast: SOL rebounds amid steady ETF inflows, privacy-focused hackathon

Solana edges higher by 2% at press time on Monday, adding to the nearly 3% rise from Sunday. A steady inflow into US spot SOL-focused Exchange Traded Funds reflects deeper institutional support for Solana. Additionally, Solana is exploring private transactions through a hackathon starting on Monday.