Precious metals

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%.

With Trump signaling no plans to fire Fed Chair Powell and showing openness to easing Chinese tariffs if a trade deal is reached, risk-on sentiment slightly returned to the markets. This sparked a more than 3% jump in US indices and a 200-point drop in both Gold and EURUSD. The key question: Are we recharging or reversing?

Trump’s Fed attacks and US–China trade tensions shake Dollar confidence — DXY drops to key support as EURUSD and Gold surge to multi-year highs. Is a deeper Dollar decline ahead?

The metal has enjoyed an amazing run, thanks to central bank buying, strong haven demand, weakness in US dollar, inflation hedging and momentum buying, among many other fundamental reasons. But what about the gold forecast? Have we passed peak uncertainty, and is it reasonable to expect the precious metal to rise significantly further from here?

DXY, EURUSD, Gold Forecast: Amid intensifying trade war tensions between the U.S. and China, the U.S. Dollar Index (DXY) remains anchored near 3-year lows, while Gold continues its record-breaking rally, defying overbought signals.

In this edition of Technical Tuesday, I will provide gold technical analysis and look at various time frames to highlight how the metal has become significantly overbought with prices continuing to trade near record highs that have been created repeatedly in recent months. Still, unless we observe a clear reversal pattern, any technical indications of overheating prices should be taken with a pinch of salt.

The longer-term positive gold forecast amid robust safe-haven demand remains intact, even as prices wobble slightly at the start of the week. But in the near-term gold is once again looking a touch stretched and a period of consolidation may be warranted, although that doesn’t necessarily spell the end of its rally.

GBPUSD, Gold Outlook: As U.S. equities continue their rebound, the U.S. Dollar remains near 3-year lows, supporting the British pound above 1.30 and gold prices above $3,200. What are the scenarios?

With trade uncertainty hanging over markets, haven demand should keep the gold forecast positive for a while yet.

Over the past three trading sessions, gold had started to show a strong bearish bias, posting a decline of more than 5%, largely due to heightened market volatility. However, buying pressure has re-emerged today, pushing the price up by more than 1% in recent hours.