
Gold gains momentum above $4,400 as softer US data dampens Fed hike odds
Gold gains momentum above $4,400 as softer US data dampens Fed hike odds
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Gold gains momentum above $4,400 as softer US data dampens Fed hike odds

After a relentless unwind since early July, USD/CAD is showing signs that the bearish move may be losing momentum. A bullish reversal signal has emerged around a major support zone, just as a looming US-Canada tariff deadline presents a binary event capable of sparking renewed volatility in the pair.

EUR/USD Price Forecast: Struggles at 1.1600, dives below 100-day SMA

GBP/JPY Price Forecast: Bulls reclaim 50-day SMA, eye 217.00

Standard Chartered targets AUD/USD at 0.74 in three months and 0.75 in a year, with the RBA, China and commodities offering support. The Australian Dollar to US Dollar (AUD/USD) exchange rate is forecast to rise to 0.74 in three months and 0.75 over 12 months by Standard Chartered.

The Canadian Dollar reached its strongest level since 1 June after July CPI beat forecasts, although the advance later faded. The Canadian Dollar initially strengthened on Monday after headline inflation reached the top of the Bank of Canada's target range, but the advance was not sustained.

Gold fund flows have turned positive after months of outflows, while Goldman says private activity is becoming more closely tied to gold prices. Goldman Sachs says gold-fund flows have “picked up meaningfully after seeing net outflows for much of this year.

The euro-dollar has held its post-Fed gains, but Bank of America sees limited scope for a stronger near-term rally. The Euro to Dollar exchange rate (EUR/US) tradd around 1.1579 on Monday, close to its August high of 1.1585 and around 0.2% higher for the month.
![Silver's new era: Supply deficits meet exploding industrial demand [Video]](https://static.pipvero.com/pipvero/uploads/2026-08/general-1-1787001203-4b4ddc6b371e56d5.webp)
Silver's new era: Supply deficits meet exploding industrial demand [Video]

The breakout in gold was a beautiful setup that saw the metal grasp at the $4k level for more than a month before bulls finally took a step forward two weeks ago. And they wasted little time, with higher-highs and lows developing to illustrate a bullish trend building, all the way until a key spot of resistance came back into the picture at the $4380 swing, taken from the resistance last October that came in as support in February and March.

Silver Price Forecast: XAG consolidates as haven demand returns

USD/CHF Price Forecast: Bulls need a break above 0.8200 to regain momentum

A crushed US Dollar sends Gold into a rally above $4,400

After a week of North American traders focusing on the developments in the US (CPI, PPI, Retail Sales), the focus this week shifts north of the 49th parallel.

Gold (XAU/USD) price forecast: Gold faces rejection at 0.618 arc; Potential decline toward $4,415