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Morning briefing: EUR/USD may rise to 1.1700
If the dollar debasement narrative is going to show up anywhere in the FX universe, you'd imagine the euro would be the obvious place. It carries the largest weighting in the US Dollar Index, giving EUR/USD outsized influence as a gauge of broader dollar sentiment.
Malaysia Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
200-day SMA briefly reclaimed, but Gold pulls back before the next leg north
TL;DR: Gold surged 3.7% to $4,495 after a Treasury buyback shock sent long-end yields and the Dollar tumbling — a real-yield move that survived hawkish FOMC minutes and now puts a break above $4,600 within reach of $5,000.
![Elliott Wave outlook: Gold resumes strong impulsive advance [Video]](https://static.pipvero.com/pipvero/uploads/2026-08/general-1-1787199187-c8dde77832bce9ce.webp)
Elliott Wave outlook: Gold resumes strong impulsive advance [Video]
Yesterday, I argued that the US dollar was likely to be the key variable in determining whether the breakouts seen in gold and silver earlier this month would extend further or reverse.
GBP/JPY Price Forecast: sellers take control below 50-day SMA
Gold climbs above $4,500 as US Dollar, yields fall
The US dollar suffered its sharpest decline in three weeks after increased Treasury buybacks drove long-end yields lower. With DXY breaking support and USD/JPY turning lower again, traders are watching whether the move has further to run.
The gold Price jumped above $4,500 and silver surged towards $67 as an unexpected US Treasury intervention sent long-term bond yields and US Dollar sharply lower. Gold and silver prices surged on Wednesday, with both precious metals accelerating higher through the US session after Washington announced an unexpected expansion of Treasury.
During today's trading session, the EUR/USD pair has posted a gain of more than 0.8% in favor of the euro, marking one of its strongest bullish moves in recent weeks and once again reinforcing a notable bullish bias in the short term. Buying pressure has remained firm following the release of the Federal Reserve's minutes, which continue to highlight persistent weakness in the U.S. dollar.
