Gold

Gold snapped a two-week losing streak but remains below the record high as traders await U.S. / China tariff talks. Battle lines drawn on the weekly technical chart.

The price of gold pulls back ahead of the record high ($3500) to keep the Relative Strength Index (RSI) out of overbought territory.

With stocks rising, the price of gold has pulled back on reduced haven demand. So, what does the gold forecast look like from here? While not outright bearish, I think at least some consolidation should be warranted.

Gold has experienced two sessions of strong bullish pressure that have pushed the price back toward the $3,400 per troy ounce zone. However, during the current session, selling pressure has reemerged, with a drop of just over 1.5%, as the price remains near historical highs.

Gold, having already staged a near 3% rally at the start of the week, extended its gains into Tuesday as risk sentiment took a knock. A softer US dollar, coupled with falling equity markets, has reinvigorated the yellow metal’s appeal as a haven asset.

USDJPY, Gold Forecast: As market uncertainty builds ahead of the FOMC meeting on Wednesday, following a wave of concerning U.S. economic data, safe haven demand for both the yen and gold is becoming visible on the charts — while broader markets remain in wait-and-see mode.

Gold rebounds from key support, crude oil stabilises near recent lows, and Wall Street eyes the Fed meeting and trade tensions amid sticky inflation signals.

Markets open cautiously as Eurozone inflation stays firm, limiting ECB flexibility. Focus shifts to a busy week of central bank decisions, with the Fed on Wednesday and the BoE on Thursday. U.S. NFP beat forecasts, but growth signals remain mixed. Crude oil dips, silver gains, and earnings from Uber, Disney, and Shopify are on this week. Stay alert as central bank guidance and macro data define the path for global markets.

Japanese yen net-longs hit record highs, but price action diverges. With USD oversold and the BoJ dovish, JPY bulls may be pushing their luck too far.

Gold has finally strung together two consecutive red weeks for the first time in 2025, building an evening star formation along the way. The question now is whether sellers can seize the day.

Gold is set to post a second weekly decline with the bears looking to test the November uptrend. Battle lines drawn on the XAU/USD short-term technical charts.