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 looks mildly offered near 1.1660 ahead of US CPI

EUR/USD faces some renewed selling pressure, always below the 1.1700 mark and navigating a tight range on the back of a decent uptick in the US Dollar. In the meantime, investors remain cautious ahead of the release of the key US inflation data tracked by the CPI.

GBP/USD challenges daily lows near 1.3460 prior to US inflation

GBP/USD struggles for direction and slips back to the lower end of the range near 1.3460 on turnaround Tuesday. Cable trades in a narrow range amid a bid bias in the Greenback ahead of the publication of the December US CPI prints.

Gold comes under pressure below $4,600, focus on US CPI

Gold prices trade with modest losses and recedes to the sub-$4,600 region on Tuesday, reversing three consecutive daily pullbacks. The yellow metal’s correction comes amid an improvement in the US Dollar prior to the release of the US inflation rate.

CPI Data expected to show stable inflation in December with limited implications for Fed policy

The US Bureau of Labor Statistics will publish December’s Consumer Price Index report on Tuesday at 13:30 GMT. The report is expected to show that prices remained broadly stable in the last month of 2025. It’s a key read on inflation and could stir some short-term moves in the US Dollar.

More pressure on the Federal Reserve emerges

News broke on Sunday night that the Federal Reserve received grand jury subpoenas from the Department of Justice on Friday, escalating the Trump administration's pressure on the nation's central bank.

Meme Coins Price Prediction: DOGE, SHIB, and PEPE bulls struggle to regain strength

Meme coins, including Dogecoin, Shiba Inu, and Pepe remain under extreme selling pressure, recording roughly seven days of downtrend following the January 4 spike. The meme coins risk a bearish shift in momentum as buying pressure subsides, potentially leading to further declines.