Gold Price News and Forecast: XAU/USD's upside capped buy 5-week SMA

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Gold Price Analysis: XAU/USD bulls face an uphill battle despite dovish Powell – Confluence Detector

Gold (XAU/USD) consolidates its overnight recovery above $1800, having capitalized on Fed Chair Jerome Powell’s dovish comments. Powell signaled Tuesday the Fed was nowhere close to unwinding its easy policy amid uneven economic recovery.

Gold bulls also weigh in the reports that the House will vote on the US stimulus bill this Friday, as the US Treasury yields correct further from yearly highs. Markets await the Day 2 of Powell’s testimony and a slew of Fedspeak for fresh directives.

Gold Price Analysis: XAU/USD's upside capped buy 5-week SMA

Gold trades near $1,810 per ounce at press time, having failed to take out the descending or bearish 5-week Simple Moving Average of $1,816 on Tuesday. The sellers failed to establish a foothold under the November low of $12,764 last week, and the metal has risen by more than 1% this week.

Even so, it's too early to call a bullish reversal, as the descending trendline falling from the record high of $2,075 reached in August is still intact.

GBP/USD drops to multi-week lows below 1.3300

GBP/USD sets aside Friday’s uptick and breaches below the 1.3300 yardstcik on Monday to hit new multi-week troughs. Falling crude oil prices following a pause in the Middle East conflict in combination with the recent soft reading in UK inflation appear to play against any BoE tightening ahead of the bank’s event later in the week.

EUR/USD meets support near 1.1370

EUR/USD fades the initial bull run past 1.1400 the figure, deflating toward the 1.1370 zone on Monday. That said, the pair reverses two daily drops in a row on the back of the irresolute price action in the US Dollar, at the time when investors continue to closely follow developments from the Middle East conflict. Next on tap is the release of the US Consumer Confidence gauge by the Conference Board.

Gold struggles to extend gains beyond $4,100

Spot Gold gapped higher at the beginning of the new week, as a pause in Middle East hostilities underpinned the mood and weighed on the US Dollar (USD). The XAU/USD pair traded as high as $4,116.20 during Asian trading hours, following a pause in strikes between Iran and the United States (US).

Bitcoin vs Gold: BTC and Gold struggle to gain momentum despite US-Iran truce

Market participants are changing gears on Monday from the war between the United States (US) and Iran in the Middle East to the anticipated Federal Reserve (Fed) interest rate decision. Meanwhile, Bitcoin (BTC) and Gold (XAU) are losing momentum, with BTC slipping below the pivotal $65,000 level while XAU remains sideways in the $4,000-$4,100 range.

Bitcoin options traders are dropping their hedges going into the Fed meeting

Bitcoin's options market has turned notably less defensive over the past month, unwinding the downside protection traders built up in June just as the Federal Reserve prepares to meet.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.