Gold supported above $1315, consolidates near 3-month lows

Yellow metal steady, hovering near $1320.
Gold uptrend intact.

Matías Salord FXStreet

The yellow metal continues to move sideways on Monday, near the 3-month high it reached last Thursday at $1,326/oz. Price has been consolidating between around $1,318 during the American session.

Price bottomed earlier today at $1,314.50 and then rebounded but if failed to rally on top of $1,320. The bullish tone remains intact.

A stronger US dollar limited gold on Monday. The greenback continued to recover ground after bottoming last Friday after the NFP report. The US Dollar Index was rising for the second day in-a-row, holding at 1-week highs above 92.20.

No key economic reports were released today. The next relevant report will be on Thursday (CPI). Regarding monetary policy, several Fed speakers are scheduled for the current week.

Technical levels to watch

To the upside, immediate resistance is seen at $1321, followed by $1326 (last week high) and $1330. On the downside, support might lie at $1314 (daily low), $1305 (Jan 4 low) and $1295 (Dec 28 high).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

GBP/USD strengthens beyond mid-1.3300s vs weak USD amid fresh Iran diplomacy hopes

The GBP/USD pair builds on Friday's modest bounce from a three-week low and gains strong follow-through positive traction at the start of a new week. This marks the second straight day of a positive move and lifts spot prices above mid-1.3300s during the Asian session amid a broadly weaker US Dollar.

EUR/USD climbs beyond 1.1400 as renewed Iran diplomacy hopes undermine safe-haven USD

The EUR/USD pair builds on a modest bullish gap opening and climbs back above the 1.1400 mark during the Asian session on Monday. The intraday move up is sponsored by a broadly weaker US Dollar, weighed down by renewed optimism over a diplomatic resolution to end a five-month-old US-Iran war.

Gold buyers try their luck on Mideast respite, Oil slump

Gold is off the highs but holds its bullish opening gap, while struggling near $4,100 early Monday. Despite the recent rebound, buyers trade with caution, keeping a close eye on the Middle East developments ahead of the US Federal Reserve policy verdict this week.

Cardano: Under pressure as bearish derivatives cap recovery

Cardano remains under pressure, trading lower at $0.165 on Monday after mild losses in the previous week. Weakening derivatives metrics and subdued momentum indicators suggest that ADA's upside move remains limited, keeping downside risks in focus. Derivatives data for Cardano shows bearish sentiment among traders.

Australian Dollar outlook: Chances of another rally won’t be decided in Canberra, but in Washington

The Australian Dollar rode a rollercoaster in the first half of the year, hitting a four-year high and then correcting. The currency enters the second half with an outlook full of uncertainty due to renewed hostilities in the Middle East, which clouds the inflation outlook and interest rates.

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.