Precious metals

With the recent improvement in risk appetite causing stocks to surge higher, haven demand for gold is not the same as before. The gold forecast is thus not as strong, and we may see a dip to around $3K before dip-buyers step back in.

EUR/USD, Gold Outlook: As markets balance trade optimism with soft economic data, EURUSD continues to hold above the 1.12 mark, while gold is testing fresh support levels below $3,200. What are the key levels to watch?

The gold forecast has taken a turn for the worse—at least in the near term. The US-China tariff truce sparked a risk-on rally across global markets on Monday, and while the dust hasn’t quite settled, today’s mild bounce in gold does little to shift the broader outlook.

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.

from a purely haven point of view, demand should have weakened for gold more meaningfully if stock market investors are correct in pricing in trade agreements. On that basis, the near-term gold forecast is looking a little murky, and a possible drop to, and potentially below, the $3K mark could be on the cards.

Gold Forecast: Gold trades in a triangle consolidation alongside broader markets, preparing for a potential breakout once clarity emerges on economic growth, trade policy, or U.S. dollar direction.

Markets appeared to steady themselves last week, with risk assets such as the S&P 500 pressing higher and haven assets taking a backseat.

Over the past five trading sessions, gold has shown a significant bearish bias, accumulating a decline of more than 4.5%.