Latest financial and economic news and analysis
Malaysia Gold price today: Gold rises, according to FXStreet data
AUD/JPY Price Forecast: Softens to near 111.00 as bearish bias holds below key technical barriers
TL;DR: Gold's rebound has technical and macro confirmation behind it, but whether it extends toward 4,500 depends on three interlinked markets — Brent crude, US Treasury yields, and Fed rate expectations — all still hinging on whether Strait of Hormuz negotiations produce a durable breakthrough.
Gold pulls back from seven-week high as bulls struggle to find acceptance above $4,300
Morning briefing: EUR/USD can attempt to test 1.1600
$4,350 and US NFP in focus: Gold bulls tighten grip on Hormuz reopening hopes
EUR/USD Price Forecast: Looks set to extend advance beyond 1.1600
The 4-hour chart of XAU/USD indicates that the price surpassed a major contracting triangle with resistance at $4,090. There was a close above $4,150, the 100 Simple Moving Average (red, 4 hours), and the 200 Simple Moving Average (green, 4 hours).
Silver Price Forecast: XAG/USD rises above $62.00 on easing inflation concerns
PBOC sets USD/CNY reference rate at 6.7895 vs. 6.7889 previous
EUR/USD has broken higher after spending much of this year trapped beneath downtrend resistance. Whether it sinks or swims will likely be determined by the incoming flow of US economic data and developments in the Gulf.
Gold rises above $4,250 on US–Iran deal hopes
Gold breaks above multiple resistance levels, signaling a potential trend reversal as bullish momentum strengthens and upside targets emerge toward $4,493.
Merely for a point of reference, it's uncomfortable how much of the crowd seems to remain bullish in USD/JPY. This is anecdotal, of course, and observational so somewhat subjective, but putting all the pieces together seem to make the risk-reward potential in USD/JPY look askew to the upside.
Silver Price Forecast: XAG/USD skyrockets above $60, tests 50-day SMA
