Gold Price News and Forecast: XAU/USD trades below the 200-day SMA

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Gold Price Analysis: XAU/USD eyes key $1831 support after benign Fed – Confluence Detector

Gold (XAU/USD) wavers below $1850, consolidating the Fed-led downside, as traders await the US Q4 advance GDP release for a fresh direction. Gold lost ground once again on Wednesday after the Fed left its key rates unchanged while maintaining the current bond-buying at $120 billion per month. Benign Fed and mounting tensions over the covid surge knocked-of the stocks and boosted the safe-haven demand for the US dollar.

Gold Price Analysis: XAU/USD trades below the 200-day SMA

Gold is currently trading below the 200-day Simple Moving Average (SMA) at $1,848, having closed below the long-term technical line on Wednesday.

It remains to be seen if the latest break below the widely-tracked average is sustained. The SMA was breached in late November and couple of times earlier this month. However, sellers failed to establish a foothold under the average support then.

Should sellers succeed this time, more bears may join the market, yielding a deeper decline. Major support is seen at $1,764 (November low). A close above the lower high of $1,875 created on Jan. 21 w

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

Gold remains below $4,100 despite receding Fed hike bets, weak USD

Gold opens with a bullish gap at the start of a new week amid receding Fed rate-hike expectations and a bearish US Dollar. Oil prices tumbled after Trump canceled an attack on Iran and said that a deal is near, easing inflation fears. This forces traders to dial back bets on extreme Fed tightening and drags the USD to a fresh low since June 17, which, in turn, is supporting the non-yielding bullion. However, the recent repeated failures to find acceptance above $4,100 warrant caution for XAU/USD bulls.

Gold struggle with 21-day SMA extends ahead of US-Iran talks

Gold keeps its range around $4,050 early Monday, consolidating the previous decline. The US Dollar holds losses, fuelled by the USD/JPY slump and Mideast diplomacy hopes. Gold awaits a clear directional breakthrough, but sellers likely have the upper hand on the 1D chart.

Week ahead: US payrolls report and AI earnings to keep investors on edge

After the Fed decision, NFP report awaited for more rate hike clues. Employment also on the agenda in Canada and New Zealand. Chinese trade and Japanese wage data to be watched too. But Iran and AI headlines to remain in driver’s seat for risk sentiment.

Bitcoin dips, Ethereum consolidates, XRP stalls

Bitcoin, Ethereum and Ripple steadied on Monday after falling over 2.8%, 3.55% and 2.35%, respectively, the previous week. BTC trades below the key resistance level, ETH consolidates between the 50-day and 100-day Exponential Moving Averages.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.