Gold trims daily losses but fails to rise back above $1190

Gold ends lower but off lows, with bias still pointing to the downside.
Below $1,180/oz the bearish pressure is likely to rise sharply.

Matías Salord FXStreet

Gold moved off daily lows but it was still in negative territory, on the back of a stronger US dollar. The yellow metal bottomed at $1,184/oz and then bounced to $1,191. Near the end of the session, it was hovering around $1,189.

The move to the upside took place amid risk appetite with a rally in Wall Street. When equity prices moved off higher, gold lost momentum but then retreat modestly from session highs.

The upside in gold continues to be seen as limited amid a resilient US dollar that continues to receive support from monetary policy expectations. After last week rate hike, the Fed is expected to continue with another hike in December and probably three more next year.

XAU/USD Technical outlook

“The daily chart shows that spot remained below all of its moving averages, with the 20 DMA still directionless, but anyway capping advances. Technical indicators in the mentioned chart spent the day consolidating in bearish territory, with the RSI slowly turning south, keeping the risk leaned to the downside”, said Valeria Bednarik, Chief Analyst at FXStreet.

According to her, in the short-term and according to the 4 hours chart, the metal was unable to settle above a still bearish 20 SMA, while technical indicators aim modestly higher within negative levels, lacking enough strength to confirm an upward extension ahead.

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.

EUR/USD: Cautiously optimistic near 1.1550 ahead of the ECB

EUR/USD extends its weekly recovery for the third day in a row on Wednesday, navigating in a sidelined fashion around 1.1550 on the back of humble losses in the US Dollar. In the meantime, market participants continue to closely follow developments in the Middle East while slowly gearing up for the ECB gathering on Thursday.

GBP/USD recedes from tops, hovers around 1.3400

GBP/USD could not sustain the initial bull run and is now slipping back toward the 1.3400 neighbourhood on Wednesday. Cable’s continuation of the ongoing leg higher follows mild selling pressure on the Greenback, despite steady uncertainty on the geopolitical front and elevated US inflation.

Gold bleeding continues as Middle East crisis escalates, Fed hike coming

Gold is accelerating its downward trends and approaches the area of $4,100 per troy ounce on Wednesday, where the 2026 bottom sits so far. The persistent decline in the precious metal almost exclusively follows the swelling opinion that the Fed will keep a cautious stance in H2, a view that was reinforced following earlier US CPI data.

$1,500: Why Ethereum just crashed 20% despite spot markets barely selling

Ethereum (ETH) recently suffered one of its sharpest declines of 2026, dropping more than 20% and briefly testing the $1,500 area. While the sell-off appeared to reflect broader market fears, derivatives and on-chain data suggest a more complex story may be unfolding beneath the surface.

Brutal sell-off: Silver deepens months-long slide, refocusing on $60

Silver has never been known for its calm temperament. The precious metal can spend weeks grinding higher before suddenly giving back months of gains in a matter of days. That volatile reputation has been on full display in recent weeks.

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.