Gold Price News and Forecast: XAU/USD volatility still clearly very high [Video]

FXStreet Team FXStreet

Gold: Volatility still clearly very high [Video]

Gold has been seeing some wild movements in recent days as a sharp three day rally added over 10% back on to the price (having previously fallen almost -15% during the $1702 to $1450 sell-off). However volatility is still clearly very high and this does not necessarily mean that gold will be traveling entirely in one direction. Read more…

Gold is back at medium-term high again

The gold futures contract gained 5.95% on Tuesday, as it extended its Monday's rally following Sunday's Fed unlimited Quantitative Easing announcement. The yellow metal has retraced all of the recent sell-off, as it got back very close to its March 9 medium-term high of $1,704.30 yesterday. Today, gold is retracing some of the advance. Read more...

XAU/USD consolidates gains, trades above $1600/oz

The metal is consolidating the strong advanced made in the last three days as the market holds above the main SMAs on the four-hour chart. As bulls regained control of the market XAU/USD is likely looking to extend gains on a break above the 1628 level en route towards the 1660 resistance and 1700 figure while support is expected to hold near 1605, 1590 and 1560 levels. Read more...

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EUR/USD looks to stabilize near 1.1600 as focus shifts to US data

EUR/USD is looking to stabilize near 1.1600 in the European session on Wednesday as traders breathe a sigh of relief before the top-tier US ADP jobs and ISM Services PMI data. A pause in the US Dollar uptrend helps the pair's recovery, but surging energy prices due to the Iran war will likely remain a drag.

GBP/USD stays weak near 1.3350 as USD preserves gains

GBP/USD stays in the red below 1.3350 in the European session on Wednesday. Escalating conflict in the Middle East keeps the "flight to safety" theme intact, supporting the US Dollar against the Pound Sterling. Traders will take more cues from the US ADP Employment and ISM Services Purchasing Managers Index reports, which are due later on Wednesday.

Gold retains positive bias amid sustained safe-haven flows and modest USD pullback

Gold maintains its offered tone through the first half of the European session, though it lacks follow-through and remains below the $5,200 mark. Investors remain concerned about a prolonged conflict in the Middle East and its impact on the global economy amid an already uncertain environment.

ADP Employment Report set to signal stronger February jobs growth, little effect on Fed outlook

The Automatic Data Processing (ADP) Research Institute will release its monthly report on private-sector job creation for February on Wednesday. The so-called ADP Employment Change report is expected to show that the United States private sector added 50K new positions in the month, following the 22K gained in January.

Asian stocks fall as South Korea’s KOSPI slumps over 10%

Asian equities drop on Middle East tensions; the MSCI Asia Pacific Index falls up to 4%. South Korea’s KOSPI fell 10.71% near 5,170, with the Korean Won weakened past 1,500 per dollar.

Solana Price Forecast: SOL consolidation near resistance as ETF inflows offer mild support

Solana price is facing slight rejection as it approaches the upper boundary of the consolidation range at around $88 on Wednesday. Institutional demand is strengthening as spot Exchange Traded Funds recorded two consecutive inflows so far this week.