Gold Price News and Forecast: XAU/USD trade within a short-term consolidation

FXStreet Team FXStreet

Gold is 0.9% higher this morning – trade within a short-term consolidation

The gold futures contract fluctuated on Wednesday, as it gained 0.04%. The market is going sideways following its recent rally. Gold price has reached new medium-term high of $1,742.60 on Tuesday, as it was the highest since November of 2012 following breaking above $1,700 mark.

However, it got back below $1,700 and yellow metal’s price remained close to previous local highs. Mounting pandemic fears are supporting the demand side and gold is still acting as a safe haven asset. Read more...

Gold advances in an elliott corrective wave

Gold continues moving mostly bullish on Thursday fueled by the bearish pressure of the US Dollar Index, and the uncertainty risen by risk on economic growth raised by the virus.

The precious metal in its 2-day chart and log scale shows the advance that the price is developing since mid-December 2015 when the yellow metal found fresh buyers at $1,047.75 per ounce. Read more...

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FXStreet Team

FXStreet

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, rises above $5,400

Gold benefits from intense risk-aversion on Monday and climbs above $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Pi Network Price Forecast: Core team offloads supply, weighing on PI recovery

Pi Network hovers below $0.1700, broadly steady at press time on Monday, attempting a recovery after a 2% loss the previous day. Sunday’s decline aligned with nearly 49 million PI tokens offloaded by the Pi Foundation, implying a spike in supply pressure that capped the prevailing four-day recovery.