Gold slides below $3,000 – ING

FXStreet Insights Team FXStreet

Gold fell further on Monday, with prices sliding below $3,000/oz.

Central banks to continue buying Gold

"Gold is traditionally a safe haven, but sometimes investors sell it along with other asset classes to cover losses elsewhere. We think Gold’s selloff will be short-lived as trade and tariff uncertainty continue to bolster its safe-haven appeal."

"China’s central bank added Gold to its reserves for a fifth straight month in March, despite record-high prices. Gold reached a new record high above $3,100/oz last month, ending the first quarter 19% higher. Gold held by the People’s Bank of China rose by 0.09 million troy ounces last month."

"We believe central banks will continue to buy Gold as geopolitical tensions and economic uncertainty push them to increase allocations toward safe-haven assets. This should provide a further tailwind to Gold prices looking ahead."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

AUD/USD struggles to recover as hawkish Fed bets escalate

The Australian Dollar is under pressure against the US Dollar as traders have raised bets supporting interest rate hikes by the Federal Reserve this year, with the AUD/USD pair posting a fresh almost eight-week low at around 0.7025. Hawkish Fed bets have accelerated following the release of the surprisingly strong United States Nonfarm Payroll (NFP) data for May.

USD/JPY holds higher ground toward 160.50 despite 'Yentervention' fears

USD/JPY holds higher ground toward 160.50 in Monday's Asian trading, despite intervention fears. Japan’s revised GDP print, which confirmed that the economy lost momentum in the first quarter, weighs on the Japanese Yen. Meanwhile, Friday's upbeat US NFP report and fresh Israel-Iran attacks favor the US Dollar bulls, underpinning the currency pair.

Gold remains heavy near $4,300 on Mideast woes, Fed rate hike bets

Gold remains vulnerable near $4,300 in European trading on Monday, following a modest Asian bounce to the $4,350-$4,355 area. Renewed hostilities in the Gulf push Crude Oil prices higher, fanning inflationary concerns and bolstering bets for more hawkish central banks. That weighs negatively on the Gold, as it mires in three-month lows.

Solana: ETF outflows and bearish sentiment reinforce downside risks

Solana (SOL) remains under pressure, trading below $66 on Monday after losing nearly 20% in the previous week. Institutional demand weakened with spot Exchange Traded Funds recording a net outflow of over $6.5 million last week, snapping a four-week streak of inflows.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.