TD Securities strategists Ryan McKay and Bart Melek highlight that strong discretionary and Asian buying is supporting Gold, even as CTA (Commodity Trading Advisors) positioning has plateaued. They argue CTAs would likely add length only on a move toward $4,600/oz, while softer United States (US) jobs data, subdued energy prices and expectations that Chair Warsh stays on hold could reinforce a stagflation narrative that benefits Gold.
CTA thresholds and macro tailwinds"Precious metals holding on to gains. Flows have proven strong enough to maintain the upside in gold, but the bar remains high to see additional length from CTAs. Prices would need to make another material leg higher to the $4,600/oz region before CTAs buy more."
"This suggests macro discretionary and Asian appetite will need to continue their buying trends to keep the rally alive. Thus far, Asian appetite remains strong for the yellow metal with broad-based buying across cohorts on SHFE, and continued ETF inflows."
"Meanwhile, the much weaker-than-expected jobs report should see Fed pricing pressures ease, especially with energy prices remaining subdued alongside. These are the first signs of a material shift in the tides for precious metals, with discretionary appetite leading the recovery."
"Higher energy prices could still be a major hurdle, with US inflation data next week in focus. But if the market becomes convinced Chair Warsh won't hike anytime soon, any upside in energy prices could strengthen the stagflation narrative, adding further fuel to the gold bulls."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Last week, gold posted a modest July gain, which has already given buyers a significant boost this week. With prices up 6.5% since the start of the week, gold has confirmed a major technical breakout, bringing to an end the downtrend that began in February. The price rebounded from the key psychological level of $4,000 – where the correction also ended last October – and from the 61.8% retracement of the 2022–2026 rally, reinforcing the significance of the reversal signal.
The bulls also have the strength with which gold broke through the 50-day moving average earlier this week in their favour; this average had served as support for the uptrend since the start of 2025, before turning into local resistance in March. If this is not a false breakout, this line could once again act as support for the medium-term bullish trend.
That said, on weekly timeframes, the bulls still need to do some groundwork. During the latest rally, the price approached but failed to break through the 50-week moving average – an important signal line for the long-term trend. It currently stands near $4,400, whilst at $4,500, there is another potential area of resistance that reversed the trend in December and March.
All things considered, we expect an interesting battle in gold this coming week, with the struggle intensifying following the release of US CPI and PPI data. The path to 4,500 may prove relatively easy, but beyond that, we should brace ourselves for a very significant tug-of-war.
The FxPro Analyst Team
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Gold goes racing higher after the jobs report in the US was weaker than anticipated. However, the move has been in play for a few days.
Gold Technical Analysis
Gold breaks above the 200-day EMA near $4,297 on weak NFP data, with $4,000 as support and $4,600 as the next major level. The gold market has shot straight up in the air during the early part of the trading session here on Friday as the jobs numbers in the United States came out negative 28,000 instead of the expected addition of just a bit over 80,000. This has the U.S. dollar on its back foot, and of course, traders are starting to already think about the Federal Reserve having to loosen monetary policy. Bets will be shifting towards a looser Fed, and therefore stocks suddenly become a little bit more attractive right along with precious metals. We’re seeing this across the board.
Whether or not this sticks remains to be seen, but so far, it certainly appears as if traders are treating the old bad news is good news behavior as the way to go going forward. We have a while before the end of the session, but right now, this looks like the 200-day EMA offered a little bit of resistance previously, now looks to offer support. We’ll just have to wait and see.
Macro Catalysts and Technical Support The $4,600 level above was an area of importance previously, so one would wonder whether or not market memory comes into play in that scenario. With that being the case, this market remains one that will be noisy, one that will move on interest rates, and one that will have a lot of external pressures via geopolitics, the U.S. dollar, interest rate markets, and whether or not people want to hold going into the weekend.
It’s a strong start so far. We have definitively broken above the crucial 200-day EMA. Generally speaking, technical traders like that. We’ll see if that holds.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
Why weak payrolls broke the week’s stalemate, and why Hormuz, Saudi warnings and US-China tensions mean the move isn’t a simple green light for risk What’s happening: July nonfarm payrolls unexpectedly fell -23K against expectations for an 85K gain, while May and June were revised down by a combined 103K and wage growth slowed. Markets responded by cutting September Fed hike odds to around 42%, sending the Dollar broadly lower, Gold decisively above $4,300 and Silver toward $65, while USD/JPY reversed back toward 155.Why it matters: This is the catalyst markets had been waiting for all week, but equities responded far more cautiously than the Dollar or precious metals, since outright payroll contraction alongside heavy downward revisions raises real growth concerns, not just rate-cut hopes. Markets may be approaching the point where bad economic news is still good for rates, but not automatically good for risk assets.Also today: Hormuz talks are progressing, but reported Iranian draft terms, barring US and Israeli vessels and threatening restrictions on countries deemed to have harmed Iran, look far more conditional than a genuine reopening. Saudi Arabia signed a new defense pact with Pakistan and Turkey while warning of possible coordinated attacks from Iran-aligned groups, raising the risk that diplomatic progress and military escalation are running on separate tracks at once. The US imposed a new 15% duty on polysilicon imports, extending US-China strategic competition into solar, semiconductor and AI-infrastructure supply chains just as China’s chip exports surged 117% year-over-year. NFP Delivers the Shock Markets Were Waiting For The US jobs report finally gave markets the catalyst they had been waiting for, sending the Dollar sharply lower and precious metals surging as traders scaled back expectations for another Fed rate hike. Nonfarm payrolls unexpectedly fell -23K in July, compared with expectations for an 85K increase, but the headline shock was only part of the story. May payroll growth was revised down from 129K to 63K and June from 57K to just 20K, wiping 103K from previously reported employment gains. Average hourly earnings also slowed from 0.3% to 0.1% month-over-month, adding to evidence that the labor market is losing momentum. The unemployment rate unexpectedly dipped from 4.2% to 4.1%, but the accompanying decline in participation from 61.5% to 61.4% made that improvement less reassuring.
July NFP Breakdown Headline NFP: -23K, against expectations for +85K May payrolls: revised down from 129K to 63K June payrolls: revised down from 57K to 20K (103K wiped from prior reports combined) Average hourly earnings: slowed from 0.3% to 0.1% m/m Unemployment rate: dipped to 4.1% from 4.2%, though participation fell from 61.5% to 61.4% Why the Hawkish Case Just Got Harder Markets responded by quickly cutting the probability of a September Fed hike to around 42%. That represents a significant challenge to the hawkish case put forward by several Fed officials this week. Kashkari argued that the Fed should begin raising rates gradually, while Musalem said policymakers should be prepared to surprise markets rather than allow prevailing pricing to dictate policy. But their argument partly rests on the economy and labor market being resilient enough to absorb additional tightening. Negative payroll growth, substantial downward revisions and softer wages raise that hurdle considerably. Inflation remains too high for the Fed to declare victory, particularly with energy risks unresolved, but the latest employment report strengthens the majority case for waiting rather than tightening pre-emptively.
Dollar Reaction Was Broad, and USD/JPY Is the Story to Watch The Dollar reaction was broad. EUR/USD and AUD/USD broke to fresh highs for the week, while USD/JPY reversed much of its rebound and headed back toward 155. That move is particularly notable after last week’s rare US-Japan intervention. As discussed ahead of payrolls, intervention had created an asymmetric setup: traders chasing USD/JPY toward 160 after strong data would have to contend with renewed intervention risk, while a data-driven fall toward 155 would face no equivalent official deterrent. July NFP delivered precisely that downside scenario.
The Canadian Dollar performed even better after Canada simultaneously reported a 75.1K employment surge against expectations for 17.8K, while unemployment fell from 6.5% to 6.4%. USD/CAD therefore faced pressure from both sides, weak US employment and unexpectedly strong Canadian hiring.
Gold and Silver Break Higher as Fed Hike Risk Fades The reaction in precious metals was immediate. Gold decisively cleared 4,300, a level that had capped its rebound earlier this week, and accelerated above 4,350. Silver simultaneously surged toward $65. Both moves reinforce the case that recent precious-metals rallies are developing into something more substantial than corrective rebounds. Lower Fed hike expectations reduce pressure from real yields and the Dollar, while geopolitical uncertainty provides another layer of support.
Gold’s break is particularly significant because 4,300 had represented the 38.2% retracement of the decline from 4889.24 to 3942.23, near 4303.98. Earlier attempts to clear that area had stalled as Treasury yields and Brent awaited confirmation of progress on reopening the Strait of Hormuz. NFP has now supplied a separate catalyst. If Gold can sustain the breakout, attention should increasingly shift toward medium-term trend line resistance around 4,500.
Key Technical Levels Gold: cleared 4,300 (the 38.2% retracement of the 4889.24-3942.23 decline, near 4303.98) and accelerated above 4,350 Silver: surging toward $65 Next resistance: medium-term trend line around 4,500 Equities Show Restraint: Good for Rates, Not Automatically Good for Risk Equities delivered a more restrained response. Dow futures rose around 170 points, leaving the index within reach of another challenge to the record set earlier this week, but the reaction was nowhere near as forceful as the moves in Dollar or precious metals. That restraint is understandable. Weaker employment reduces the probability of additional Fed tightening, which supports valuations, but outright payroll contraction accompanied by substantial downward revisions also raises questions about underlying growth. Markets may therefore be approaching the point where bad economic news is still good for rates, but no longer automatically good for risk assets.
Hormuz Talks Progress, but the Details Complicate the Optimism That caution is reinforced by increasingly complicated developments in the Middle East. Iran and Oman continue working toward an arrangement defining shipping routes through the Strait of Hormuz, but despite expectations earlier this week that an agreement could arrive quickly, no final deal has yet been announced. The latest reports suggest inbound traffic could travel through Iranian waters while outbound vessels use Omani waters. Yet the reported Iranian draft terms raise questions over how closely any arrangement would resemble a genuine normalization of shipping.
Under the apparent draft proposal, US and Israeli vessels would be barred from using the Strait, while countries deemed to have harmed Iran could face restrictions until compensation is paid. Such conditions would make the proposed arrangement substantially different from an unconditional reopening. It also remains unclear how the temporary framework would evolve into a durable settlement. Markets have spent much of the week pricing falling geopolitical risk through lower oil and stronger equities, but the details now matter more than general expectations of a deal.
Diplomatic Rhetoric Turns More Hostile Diplomatic rhetoric is simultaneously becoming more hostile. Iran’s chief negotiator accused US President Donald Trump of engaging in “theater diplomacy,” highlighting conflicting accounts from Washington and Tehran over bilateral contacts. More importantly, progress over Hormuz is occurring alongside signs that regional military risks may be increasing rather than disappearing.
Saudi Warnings Add a New Escalation Risk Saudi Arabia, Pakistan and Turkey signed a joint defense agreement in Mecca on Friday as Riyadh warned of possible coordinated attacks from Iran-aligned groups. A senior Saudi official said intelligence from Saudi Arabia, the US and other regional countries pointed to potential attacks from Iraqi militias to the north and Houthis in Yemen to the south, potentially targeting civilian and economic infrastructure including energy facilities, ports and airports.
Particularly important was the Saudi official’s suggestion that possible attacks could reflect “a power struggle within Iran itself” and might be intended to derail negotiations that had otherwise been “heading in the right direction.” If that assessment proves accurate, it complicates the assumption that diplomatic progress automatically translates into lower geopolitical risk. Negotiations over Hormuz could advance at the government level while other actors simultaneously attempt to undermine them through military escalation.
Two Middle East Stories on Separate Tracks That creates two Middle East stories moving on separate tracks. One is diplomatic: Iran and Oman are trying to establish a framework that could restore more normal shipping through the Strait. The other is military: Gulf states are preparing for the possibility that regional attacks could intensify even while those negotiations continue. Brent’s recent inability to extend decisively below $78 and subsequent rebound above $83 increasingly looks consistent with that uncertainty.
US-China Competition Intensifies on Another Front Geopolitics is also moving beyond the Middle East. The Trump administration imposed a new 15% duty on polysilicon products on Thursday and introduced minimum prices for some related imports, explicitly framing the measure as an effort to protect US solar and semiconductor supply chains from Chinese competition. Polysilicon sits at the intersection of several strategic priorities, solar power, semiconductors, AI infrastructure and energy security, making the move another example of economic policy becoming inseparable from great-power competition.
The timing is notable given China’s strong July trade figures. Chinese exports rose 23.9% year-over-year, beating expectations, while chip exports surged 117% as global AI infrastructure demand continued to power high-tech manufacturing. Washington’s latest action therefore comes precisely as advanced technology becomes an increasingly important source of Chinese export growth. That suggests trade tensions are shifting further toward sectors viewed as strategically important rather than simply those generating large bilateral deficits.
What This Means Heading Into the Weekend For markets, the immediate driver remains the US employment shock. The Dollar has broken lower, Gold has cleared $4,300, Silver is approaching $65 and September Fed hike expectations have retreated sharply. But heading into the weekend, weaker payrolls cannot be treated as a straightforward invitation to extend risk-on positions. The Hormuz agreement remains unfinished, regional military threats are increasing, and US-China strategic competition is intensifying. NFP has broken this week’s market stalemate; whether those moves survive next week may depend increasingly on what happens outside the economic calendar.
Related Coverage Jobs & Trade Data Deep Dives Read the full NFP breakdown showing how deep the downward revisions cut into prior job gains: US Non-Farm Payrolls Contract -23k. Revisions Expose Deeper Labor Market Weakness. See the full Canada jobs report, including why wage growth cooling to 2.8% still reduces pressure for more BoC support: Canada Jobs Surge 75K as Unemployment Falls to Two-Year Low. Read why China’s export beat still raises sustainability questions once tariff front-loading fades: China Exports Rise 23.9% YoY as High-Tech Demand Defies Tariffs. Frequently Asked Questions Q: Why did equities react more cautiously than the Dollar and Gold to the NFP miss? A: Weaker employment reduces the probability of additional Fed tightening, which normally supports valuations. But outright payroll contraction, combined with substantial downward revisions to May and June, also raises questions about underlying growth. Markets may be approaching the point where bad economic news is still good for rates but no longer automatically good for risk assets, which is why Dow futures rose a modest 170 points while the Dollar and precious metals moved far more forcefully.
Q: Why does USD/JPY’s move back toward 155 matter after last week’s intervention? A: Last week’s coordinated US-Japan intervention created an asymmetric setup: traders pushing USD/JPY back toward 160 on strong data would face renewed intervention risk, while a data-driven fall toward 155 would face no equivalent official deterrent. July’s NFP delivered exactly that downside scenario, reversing much of USD/JPY’s prior rebound with no offsetting pushback expected from Japanese authorities.
Q: Does progress on Hormuz shipping talks mean geopolitical risk is actually falling? A: Not necessarily. Reported draft terms would bar US and Israeli vessels from the Strait and threaten restrictions on countries deemed to have harmed Iran until compensation is paid, conditions that make any arrangement substantially different from an unconditional reopening. At the same time, Saudi Arabia has warned of possible coordinated attacks from Iran-aligned groups, which a Saudi official suggested could reflect a power struggle within Iran aimed at derailing the negotiations. That means diplomatic progress and military escalation risk could be running on separate tracks simultaneously.
Key Takeaways NFP delivered a genuine shock: Headline payrolls fell -23K against expectations for +85K, while May and June were revised down by a combined 103K and wage growth slowed to 0.1% m/m. September Fed hike odds were cut to around 42%: The report significantly raises the hurdle for the hawkish case made by Kashkari and Musalem this week, since it rested on the economy being resilient enough to absorb more tightening. Dollar, Gold and Silver moved far more forcefully than equities: Gold cleared 4,300 and accelerated above 4,350, and Silver pushed toward $65, but Dow futures rose a more modest 170 points, since weak payrolls raise growth questions even as they support the case for a Fed pause. USD/JPY’s reversal toward 155 fits last week’s intervention asymmetry: A data-driven move lower carries no equivalent official deterrent to the one traders would face pushing the pair back toward 160. Hormuz progress comes with complicating conditions: Reported draft terms barring US and Israeli vessels and threatening restrictions on other countries look far more conditional than a genuine reopening, while Saudi Arabia’s new defense pact and attack warnings suggest military risk could be rising even as talks continue. US-China tensions are extending into strategic technology supply chains: The new US polysilicon tariff lands just as China’s chip exports surged 117% year-over-year, pointing to trade friction shifting toward strategically important sectors. What to Watch Next Whether this week’s moves hold into next week may depend less on the economic calendar than on developments outside it: whether the Hormuz framework firms into something closer to an unconditional reopening, whether Saudi Arabia’s escalation warnings materialize, and whether US-China tensions extend further into strategic technology sectors.
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Market news from the European morning session - 7 August 2026
Headlines:
All eyes on the US jobs report nowWhat is the distribution of forecasts for the US NFP?Gold stays supported amid Middle East de-escalation, but the US CPI could erase the gainsTrump says a rate hike isn't completely up to Warsh, it's up to the BoardHow have interest rate expectations changed after this week's events?China gold buying spree continues in July as reserves climb for a 21st consecutive monthMarket update:
Gold up 1.8% to $4,316WTI crude oil down 0.4% to $76.93CHF leads, CAD lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields down 1 bps to 4.66%Bitcoin up 0.8% to $64,900It was a quieter session as market players took a bit of a breather ahead of the US jobs report for July that is to come later.
US-Iran tensions continue to be a mainstay but in the absence of further developments, traders are not really doing all too much today.
Gold prices continue to run up though, jumping above $4,300 in keeping with the technical breakout from Wednesday. The 100-day moving average at $4,390 will be a key focus point next.
Besides that, there wasn't too much else happening. US futures remain more pensive with tech shares hoping to at least recover some poise before the weekend. S&P 500 futures are up 0.1% with Nasdaq futures up 0.4%.
Meanwhile, the dollar wasn't up to much as major currencies trade in a relatively narrow range ahead of the main event later today. EUR/USD is flat at 1.1528 with USD/JPY down just 0.1% to 158.30 on the day.
In other markets, oil is down slightly in erasing earlier gains with WTI crude lower by 0.4% to $76.93. And looking to bonds, 10-year yields in the US are down just 1 bps to 4.66% for the moment. So, there's not too much in it all in all.
It's now down to the US jobs report to perhaps give traders something to work with before the weekend break.
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Gold (XAU/USD) resumes its bullish trend on Friday, after a brief consolidation on Thursday, to reach fresh three-week highs above $4,300, with bulls aiming for mid-June highs in the $4,380 area. The precious metal is on track for its strongest weekly performance since January, with a nearly 7% gain, although further appreciation is likely to depend on the outcome of July’s Nonfarm Payrolls (NFP) due later in the day.
The market consensus forecasts a net increase of 80K payrolls, from 57K in June, although analysts from some of the world’s major commercial banks are keeping a cautious view.
Deutsche Bank experts are anticipating a more modest improvement in today’s labour market report, with a “slight uptick in headline (+65k forecast vs. +57k previously). They note that such an outcome “would put the latest readings below the 3- and 6-month moving averages, consistent with the recent slowing in the weekly ADP reports,” underscoring a gradual cooling in hiring momentum rather than a sharp deterioration.
Technical Analysis: Gold confirms a trend shift
XAU/USD trades at $4,315.19, keeping a constructive near‑term bias after breaking the downward trendline resistance from April highs earlier this week. Relative Strength Index (RSI) studies highlight overstretched levels on intraday charts, although the daily chart shows room for further appreciation, at 67. The daily Moving Average Convergence Divergence (MACD) keeps trending higher, reinforcing the bullish view.
Above $4,300, the next hurdle lies at the June 15 and 17 highs in the mentioned $4,380 area. Further up, the late-May lows just ahead of $4,600 will come into focus. Supports are at Thursday's low of $4,223, ahead of the broken trendline, now around $4,050, and the July 31 and August 3 lows, around the $4,000 level.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Gold prices rose in Philippines on Friday, according to data compiled by FXStreet.
The price for Gold stood at 8,353.18 Philippine Pesos (PHP) per gram, up compared with the PHP 8,304.41 it cost on Thursday.
The price for Gold increased to PHP 97,429.05 per tola from PHP 96,861.02 per tola a day earlier.
Unit measure
Gold Price in PHP
1 Gram
8,353.18
10 Grams
83,531.21
Tola
97,429.05
Troy Ounce
259,818.90
FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in United Arab Emirates on Friday, according to data compiled by FXStreet.
The price for Gold stood at 503.81 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 500.63 it cost on Thursday.
The price for Gold increased to AED 5,876.41 per tola from AED 5,839.22 per tola a day earlier.
Unit measure
Gold Price in AED
1 Gram
503.81
10 Grams
5,038.07
Tola
5,876.41
Troy Ounce
15,670.63
FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in Malaysia on Friday, according to data compiled by FXStreet.
The price for Gold stood at 561.29 Malaysian Ringgits (MYR) per gram, up compared with the MYR 557.62 it cost on Thursday.
The price for Gold increased to MYR 6,546.79 per tola from MYR 6,503.99 per tola a day earlier.
Unit measure
Gold Price in MYR
1 Gram
561.29
10 Grams
5,612.91
Tola
6,546.79
Troy Ounce
17,458.15
FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in India on Friday, according to data compiled by FXStreet.
The price for Gold stood at 13,072.48 Indian Rupees (INR) per gram, up compared with the INR 12,986.65 it cost on Thursday.
The price for Gold increased to INR 152,472.70 per tola from INR 151,473.80 per tola a day earlier.
Unit measure
Gold Price in INR
1 Gram
13,072.48
10 Grams
130,723.20
Tola
152,472.70
Troy Ounce
406,597.90
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Central bank gold buying has surged in recent years. Net central bank gold purchases rose from an average of 473 tonnes between 2010 and 2021 to nearly 1,000 tonnes over the last four years.
Emerging market central banks have dominated gold buying, driving the surge in gold reserves, but a developed economy central bank recently announced plans to begin expanding its gold reserves through a domestic buying program.
On Monday, the Bank of Korea said it has established a framework to purchase gold from South Korean miners at international spot prices.
The last time the Bank of Korea expanded its gold reserves was 13 years ago. The country currently holds just over 104 tonnes of gold, making up about 1.1 percent of the country’s total reserves.
Bank of Korea Reserve Management Group head Jeong Hee-sup said the central bank has also started purchasing gold ETF shares.
"With geopolitical risks becoming a persistent feature of the global environment, interest in gold as a safe-haven asset has grown significantly among central banks," Hee-sup said.
He emphasized that the domestic gold purchases are part of a long-term strategy to expand the country’s gold reserves.
"We do not plan to make a large purchase all at once. We intend to gradually increase the share of gold according to medium- and long-term needs."
The Korea Exchange and the Korea Securities Depository will facilitate the transactions, with domestic gold producer LS MnM and Korea Zinc supplying eligible gold.
The two Korean gold miners produce 4 to 5 tonnes of gold annually. Officials say the Bank of Korea will purchase some of that output “when market and reserve management conditions are favorable.”
The structure of the scheme will allow the Bank of Korea to settle the transactions in Korean won, meaning it will not have to dip into its foreign exchange reserves.
The gold will reportedly be stored in South Korea. Most of the country’s gold reserves are held in London vaults.
Analysts say that the move won’t likely impact the domestic gold price because the central bank plans to only buy gold intended for export at contract prices. However, it will mean less gold flowing into the global supply.
Central banks have been buying gold to lower their exposure to the U.S. dollar. Many countries have become wary of the U.S.’s weaponization of the currency and the fiscal irresponsibility of the federal government with its borrowing and spending out of control. During a central bank panel discussion in London last month, Hee-sup indicated that these concerns are top of mind in South Korea as well.
“Given gold's role as an inflation hedge and its potential as an alternative to the U.S. dollar, it's evident that gold should be considered one of the viable assets from a medium- to long-term perspective.”
Notably, South Korea holds far less gold than most developed economies. It was aggressively expanding its reserves between 2011 and 2013. As the Economic Times of India put it, “the timing appeared disastrous.”
The yellow metal peaked at $1,920 per ounce in September 2011, and then tumbled to $1,180 in 2013, a 38 percent decline. By 2015, the unrealized loss grew to 1.8 trillion won. The South Korean government and central bank faced heavy criticism for making a bad investment decision and ended its purchasing program in 2015.
At $4,000 an ounce per day, the decision looks pretty good. The 90 tonnes of gold purchased during that period are now worth about $7 billion more than the Bank of Korea paid for it.
As already noted, South Korea is part of a broader central bank gold buying trend.
Last year was the fourth-largest expansion of central bank gold reserves on record, at 863 tonnes. That was down 21 percent year-on-year, but still well above the 2010-2021 annual average of 473 tonnes.
The all-time high was set in 2022 (1,136 tonnes). It was the highest level of net purchases on record, dating back to 1950, including since the suspension of dollar convertibility into gold in 1971.
Last month, the European Central Bank confirmed that gold had overtaken U.S. Treasuries as the world’s top reserve asset.
According to an Official Monetary and Financial Institutions Forum (OMFIF) report, this shift toward gold has been “driven by protection against geopolitical risk and growing doubts about the stability of the international monetary system.”
OMFIF head of research Andrea Correa said she thinks this trend will continue into the foreseeable future.
"Gold is not moving anywhere. Reserve managers of the central banks are still very bullish on gold. Despite the fact that the gold value itself keeps rising, they are still demanding it."
Gold flows into ETFs flipped positive globally in July. After two consecutive months of outflows, every region reported positive flows of metal into gold-backed funds in July.
With Europe leading the way, gold ETFs reported net gold inflows of 23.5 tonnes in July, valued at $3 billion.
Assets under management (AUM) by gold-backed funds rose 1 percent to $530 billion. ETFs currently hold 4,068 tonnes of the yellow metal.
Year-to-date, ETFs have added a net 39 tonnes of gold to their collective holdings valued at $11 billion.
The World Gold Council pinpointed three factors driving the ETF turnaround in July:
Diversification amid tech volatilitySelective bargain hunting as prices fellPolicy and geopolitical uncertainty, particularly an unclear monetary policy outlook and the ongoing war in IranEuropean ETFs reported the second-strongest month of inflows this year in July, adding 17.3 tonnes of gold valued at around $2 billion.
Funds based in the UK and Switzerland led the surge.
According to the World Gold Council, it appears investors in Europe “rebuilt their positions” following a big selloff in June, as lower prices created buying opportunities.
“This mirrors the pattern seen earlier in the year, when European funds led the rebound following March's sharp U.S.-led outflows, suggesting investors were willing to add exposure after periods of market weakness.”
Asian funds reported a 4.8-tonne increase in gold holdings valued at $116 million. Chinese funds led the way with investors seeking a safe haven.
The CSI 300 Stock Index recorded its worst month since January 2016. Meanwhile, falling local yields reduced the opportunity cost of holding gold.
Japanese-listed funds reported outflows as rising local yields diverted investor demand.
Indian funds reported modest inflows of $157 million.
North American funds reported inflows of just 0.3 tonnes valued at $71 million. The World Gold Council called it a “tentative recovery” after two months of significant outflows.
North America remains the only region reporting net gold outflows for the year.
Funds in other regions, including Africa and Australia, reported gold inflows of 1 tonne valued at $140 million. ETFs listed in South Africa and Australia led the way.
ETFs are a convenient way for investors to play the gold market, but owning ETF shares is not the same as holding physical gold.
ETFs are relatively liquid. You can buy or sell an ETF with a couple of mouse clicks. You don’t have to worry about transporting or storing metal. In a nutshell, it allows investors to play the gold market without buying full ounces of metal at the spot price.
Since you are just buying a number in a computer, you can easily trade your ETF shares for another stock or cash whenever you want, even multiple times on the same day. Many speculative investors take advantage of this liquidity.
But while a gold ETF is a convenient way to play gold's price, you don’t possess any gold. You have paper. And you don’t know for sure that the fund has all the gold either, especially when it sees inflows. In such a scenario, there have been difficulties or delays in obtaining physical metal.
Trading volumesGlobal market liquidity averaged $356 billion per day in July, down 3.5 percent month-on-month.
Over-the-counter trading volumes also fell, ticking lower by about 3.4 percent to $205 billion per day.
Despite the decline, both LBMA volumes and Shanghai trading activity remained above their 2025 averages.
Total COMEX longs dropped modestly by 4.4 percent to 542 tonnes.
Managed money appears to be rebuilding its position, with longs adding 11 tonnes.
The World Gold Council described the current position as “near neutral.”
“Gold continues to be weighed down by the effects of the war in the Middle East, which has reinforced inflation risks and supported the dollar and yields, adding to the opportunity-cost headwind facing gold.”
To receive free commentary and analysis on the gold and silver markets, click here to be added to the Money Metals news service.
Gold Technical Outlook: XAU/USD Short-term Trade Levels Gold has broken out of a multi-month consolidation pattern with XAU/USD rallying more than 9% from the yearly low. The advance is now confronting its first major technical resistance zone since the breakout. A sustained move through the yearly open would strengthen the case that a more significant trend reversal is underway. Near-term technical structure is constructive while above the July high-day close Friday's Non-Farm Payrolls report could provide the catalyst for gold's next major directional move. Resistance 4305/19 (key), 4367, 4491-4533- Support 4165, 4074/98 (key), 4007 Gold enters the final trading day of the week with momentum firmly shifted in favor of the bulls after breaking decisively above a multi-month consolidation pattern. The breakout marks the strongest technical development since the March decline began, but the rally has now reached the first major resistance zone where buyers must prove they can sustain the advance. With the market pulling back from today's highs ahead of Friday's Non-Farm Payrolls report, traders will be watching closely to see whether former resistance can transition into support and keep the broader recovery on track. Battle lines drawn on the XAU/USD short-term technical charts.
Review my latest Weekly Strategy Webinar for an in-depth breakdown of this gold technical setup and more. Join live on Monday’s at 8:30am EST and follow this setup throughout the week in the Opening Bell.
Gold Price Chart – XAU/USD Daily
Chart Prepared by Michael Boutros, Sr. Technical Strategist; XAU/USD on TradingView
Technical Outlook: In last month’s Gold Short-term Outlook we noted that XAU/USD was, “attempting to stabilize after a nearly 30% decline from the record high, with XAU/USD rebounding from fresh yearly lows on building momentum divergence. The recovery has brought price back above a key pivot zone, but buyers still need to prove they can defend support and extend the rebound into a broader recovery.” Gold continued to straddle this pivot zone for nearly seven-weeks with a well-defined consolidation pattern finally breaking out yesterday.
The advance exhausted into the first major technical hurdle today at the 38.2% retracement of the April decline and the objective yearly open at 3405/19. Note that momentum has now extended to the highest levels since early-March with daily RSI trading just below the 60-threshold. The focus heading into tomorrow’s highly anticipated employment report is on this pullback from resistance and IF gold has indeed bottomed, losses should be limited in the days ahead.
Gold Price Chart – XAU/USD 240min
Chart Prepared by Michael Boutros, Sr. Technical Strategist; XAU/USD on TradingView
Notes: A closer look at gold price action shows XAU/USD trading within the confines of a proposed ascending pitchfork extending July / Aust low with the 75% parallel further highlighting immediate resistance at 4305/19. Price is testing the median-line now with subsequent support seen at the July high-day close (HDC) at 4165. Note that former consolidation resistance (red) converges on this level into the close of the week. Bullish invalidation is now set to the March low and the 61.8% extension of the March decline at 4074/98. The lower parallel converges on this zone tomorrow and losses below this threshold would suggest a more significant near-term high is in place and nullify this week’s breakout. Subsequent support rests with the yearly low-day close / July open at 4007. Look for a larger reaction there IF reached.
A topside breach / daily close above the yearly open would mark resumption of the near-term uptrend. Subsequent resistance objectives eyed at the May low at 4367 with the next major technical consideration seen at 4491-4533- a region defined by the 200-day moving average, the 61.8% retracement of the April decline, and the 2025 high-day close (HDC). Note that the upper parallels of both the near-term uptrend and the yearly downtrend (daily chart) converge on this level next week and a breach / weekly above these slopes would be needed to validate a larger, more meaningful trend reversal is underway in gold.
Bottom line: Gold broke out of multi-month consolidation pattern with rally testing the first major technical hurdle today. From a trading standpoint, losses should be limited to 4165 IF price is heading higher on this stretch with a close above 4319 needed to fuel the next leg of the advance.
Attention now turns to tomorrow's highly anticipated Non-Farm Payrolls report, the week's key macro event. The data will be closely watched for clues on the strength of the labor market and its implications for the Fed's policy outlook. A stronger-than-expected report would reinforce expectations for a restrictive policy stance and may curb the near-term advance in gold, while a softer reading could prompt markets to scale back rate-hike expectations. Stay nimble into the release and watch the weekly close for confirmation of the broader trend. Review my latest Gold Weekly Technical Forecast for a closer look at the longer-term XAU/USD trade levels.
Key US Economic Data Releases
Economic Calendar - latest economic developments and upcoming event risk.
Active Short-term Technical Charts US Dollar Short-term Outlook: USD Correction Pressures Pivotal Support Euro Short-term Outlook: EUR/USD Breakout Risk Builds Into Month-End Swiss Franc Short-term Outlook: USD/CHF Rally Presses Yearly Trend Resistance Canadian Dollar Short-term Outlook: USD/CAD Rebound Challenges the July Downtrend Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal --- Written by Michael Boutros, Senior Technical Strategist
Capstone Therapeutics (NASDAQ:CAPS – Get Free Report) and Gold.com (NYSE:GOLD – Get Free Report) are both small-cap industrials companies, but which is the superior stock? We will compare the two companies based on the strength of their profitability, valuation, earnings, analyst recommendations, dividends, institutional ownership and risk.
Earnings and Valuation This table compares Capstone Therapeutics and Gold.com”s revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Capstone Therapeutics $48.11 million 0.08 -$21.23 million ($3.37) -0.08 Gold.com $10.98 billion 0.11 $17.32 million $2.92 14.90 Gold.com has higher revenue and earnings than Capstone Therapeutics. Capstone Therapeutics is trading at a lower price-to-earnings ratio than Gold.com, indicating that it is currently the more affordable of the two stocks.
Volatility & Risk Capstone Therapeutics has a beta of -1.52, indicating that its share price is 252% less volatile than the S&P 500. Comparatively, Gold.com has a beta of 0.54, indicating that its share price is 46% less volatile than the S&P 500.
Profitability This table compares Capstone Therapeutics and Gold.com’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Capstone Therapeutics -41.26% -114.15% -39.74% Gold.com 0.35% 17.82% 4.21% Analyst Ratings This is a summary of recent ratings for Capstone Therapeutics and Gold.com, as reported by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Capstone Therapeutics 1 0 0 0 1.00 Gold.com 0 2 4 0 2.67 Gold.com has a consensus price target of $59.75, suggesting a potential upside of 37.37%. Given Gold.com’s stronger consensus rating and higher possible upside, analysts clearly believe Gold.com is more favorable than Capstone Therapeutics.
Institutional & Insider Ownership 2.5% of Capstone Therapeutics shares are owned by institutional investors. Comparatively, 62.9% of Gold.com shares are owned by institutional investors. 39.3% of Capstone Therapeutics shares are owned by insiders. Comparatively, 0.6% of Gold.com shares are owned by insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a company will outperform the market over the long term.
Summary Gold.com beats Capstone Therapeutics on 13 of the 14 factors compared between the two stocks.
About Capstone Therapeutics (Get Free Report)
Capstone Therapeutics Corp., a biotechnology company, develops novel peptides and other molecules for helping patients with under-served medical conditions in the United States. It develops Apo E mimetic peptide molecule AEM-28 and its analogs that have completed Phase Ia and Phase Ib/IIa clinical trials for lipoprotein metabolism. The company was formerly known as OrthoLogic Corp. and changed its name to Capstone Therapeutics Corp. in May 2010. Capstone Therapeutics Corp. was founded in 1987 and is headquartered in Tempe, Arizona.
About Gold.com (Get Free Report)
A-Mark Precious Metals, Inc., together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products. The Direct-to-Consumer segment provides access to an array of gold, silver, copper, platinum, and palladium products through its websites and marketplaces. It operates five company-owned websites targeting specific niches within the precious metals retail market. This segment also operates as a direct retailer of precious metals to the investor community and markets its precious metal products on television, radio, and the internet, as well as through customer service outreach. The Secured Lending segment originates and acquires commercial loans secured by bullion and numismatic coins; and serves coin and precious metal dealers, investors, and collectors. The company serves customers, including financial institutions, bullion retailers, industrial manufacturers and fabricators, sovereign mints, refiners, coin and metal dealers, investors, collectors, and e-commerce and other retail customers. It has operations in the United States, rest of North America, Europe, the Asia Pacific, Africa, and Australia. A-Mark Precious Metals, Inc. was founded in 1965 and is headquartered in El Segundo, California.
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When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?
Let's take a look at what these Wall Street heavyweights have to say about Gold.com (GOLD - Free Report) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.
Gold.com currently has an average brokerage recommendation (ABR) of 1.33, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by six brokerage firms. An ABR of 1.33 approximates between Strong Buy and Buy.
Of the six recommendations that derive the current ABR, five are Strong Buy, representing 83.3% of all recommendations.
Brokerage Recommendation Trends for GOLD
Check price target & stock forecast for Gold.com here>>>
The ABR suggests buying Gold.com, but making an investment decision solely on the basis of this information might not be a good idea. According to several studies, brokerage recommendations have little to no success guiding investors to choose stocks with the most potential for price appreciation.
Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.
This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.
Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.
Zacks Rank Should Not Be Confused With ABRAlthough both Zacks Rank and ABR are displayed in a range of 1--5, they are different measures altogether.
Broker recommendations are the sole basis for calculating the ABR, which is typically displayed in decimals (such as 1.28). The Zacks Rank, on the other hand, is a quantitative model designed to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.
Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.
On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.
Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.
Should You Invest in GOLD?In terms of earnings estimate revisions for Gold.com, the Zacks Consensus Estimate for the current year has remained unchanged over the past month at $5.31.
Analysts' steady views regarding the company's earnings prospects, as indicated by an unchanged consensus estimate, could be a legitimate reason for the stock to perform in line with the broader market in the near term.
The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Gold.com. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
It may therefore be prudent to be a little cautious with the Buy-equivalent ABR for Goldcom.
XM has introduced GOLD24-7, a new Gold trading instrument that gives traders access to Gold markets seven days a week.
Unlike traditional Gold CFDs, which follow standard market hours, GOLD24-7 allows traders to continue trading Gold over the weekend.
"Markets don't stop generating news simply because it's the weekend," said Stavri Morti, Co-CEO at XM. "Economic data, geopolitical developments and breaking news can all influence market sentiment over the weekend. We introduced GOLD24-7 to give our clients greater flexibility to respond to those developments as they happen, instead of waiting until Monday."
The launch forms part of XM's broader strategy to expand its product offering while continuing to evolve its trading experience in line with changing market conditions and client needs.
For over 15 years, XM has been a market leader in Gold trading. This position was further solidified earlier this year amid historic volatility in the gold market, as the broker provided traders with uninterrupted trading and exceptional execution conditions, including zero requotes and no rejections. GOLD24-7 builds on that approach by extending Gold trading beyond the traditional trading week.
GOLD24-7 is now available to all XM clients. Traders interested in accessing the new instrument can open an XM account in just minutes to begin trading Gold throughout the week.
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Persian Gulf Uncertainty and Interest Rate Pressures There are questions as to whether or not a deal is close or not, and generally speaking what we have are American officials saying that we are close and Iranians denying that, and that’s been the game we’ve been playing for a while. This has a major influence on interest rate markets, which of course in turn have a major influence on gold most of the time.
And with a non-yielding asset like gold, we do have to worry about higher rates because, quite frankly, why take the risk when you can get a guaranteed return?
A short-term pullback from here would make a certain amount of sense, and the 50-day EMA is right above the consolidation area that we just broke out of, so that’s an area that might be worth watching to pick up value. If we continue to go higher from here, then it would be a very strong sign for gold, and at that point in time one would think that dip buying might start to commence in the market as people chase returns.
Rebounding gold prices and rising domestic inflation expectations for SARB rate hikes fueled the rand's rally against the US dollar Near-term support for the rand depends on risk sentiment and commodities, while the medium-term outlook remains balanced and Fed-sensitive US jobs/inflation data, Fed rate signals, SA inflation prints, and Middle East diplomacy will drive the next major move While everyone’s been focused on oil and what’s happening in the Middle East, the South African rand has actually been doing pretty well, even if it’s not the most exciting story. The USD/ZAR exchange rate has dropped over 1.1% in the past five trading sessions.
This continues a comeback that started around the end of July, when the rate hit a low of about 16.98, the weakest it had been in over three months. It’s not a big jump, but it’s been consistent. In currency trading, consistency often means several good things are happening at the same time.
Where Is the Rand Getting Its Strength? The rand’s recent strength is attributed to a combination of favorable commodity prices and evolving domestic interest rate expectations. Increased global prices for key exports like gold and platinum group metals have improved South Africa’s trade balance and boosted demand for its currency.
The rand is also benefiting from the same trend that’s pushed oil prices down. As tensions between the US and Iran have eased and there’s more hope for a diplomatic solution regarding the Strait of Hormuz, falling oil prices have generally improved risk sentiment. Since South Africa is a net oil importer, lower oil prices directly help its import costs and its currency.
Meanwhile, the U.S. Federal Reserve is expected to keep a gradual easing bias into late 2026. This has narrowed the dollar’s interest rate advantage over high-yielding emerging market currencies.
But this isn’t just a borrowed rally. South Africa also posted its third consecutive primary budget surplus, hitting 1.1% of GDP for the year through March. This suggests fiscal discipline is taking hold.
Near-Term and Medium-Term Outlook for USD/ZAR For the near term, the rand is expected to remain relatively strong, provided market sentiment stays positive and commodity prices remain firm. A consistent move below 16.30 could lead to further rand appreciation if U.S. economic data continues to underperform or if diplomatic progress reduces global uncertainties.
Conversely, any sharp rebound in the dollar on stronger US data or renewed geopolitical tension would quickly reverse recent rand strength.
Longer term, the picture looks more balanced. South Africa’s higher real interest rate differential still offers carry appeal, and ongoing structural reforms, coupled with commodity support, make for a positive environment.
Even so, the rand remains sensitive to Federal Reserve policy, global risk appetite, and domestic inflation developments.
What drove the sharp decline in the USD/ZAR exchange rate over recent trading sessions?
Stronger gold and platinum prices, combined with expectations of upcoming South African Reserve Bank interest rate hikes, pushed USD/ZAR down sharply.
What role did global crude oil prices play in shaping the rand’s recent performance?
Moderating crude oil prices eased South Africa’s import bill and reduced domestic inflationary pressure, supporting broader sentiment for the local currency.
Which factors should traders monitor most closely?
US economic data and Fed expectations, commodity prices especially precious metals, South African inflation and Reserve Bank signals, plus geopolitical developments.
Gold sees early gains ease but buyers stay in a good spot in second half of the weekEquities take a step back as investors can't shake off AI spending concernsS&P 500 soars to record highs as geopolitical risks ease; focus shifts to US CPI dataThe dollar's next move hinges on inflation, while the yen waits for the BoJUS-based employers announce fewest job cuts in two years in JulyGerman construction activity continues to struggle at the start of Q3UK construction slump eases in July amid rebound in client demandMarkets:
WTI crude oil up 0.8% to $75.80USD leads, CHF lags on the dayGold up 0.2% to $4,255S&P 500 futures up 0.1%, Nasdaq futures down 0.4%US 10-year yields up 2.6 bps to 4.64%Bitcoin down 0.3% to $64,565It was a session where markets are taking a bit of a breather in not really chasing any moves too much.
The jump higher in gold and tech selloff yesterday is still reverberating, and market players are gathering their steps again in approaching the second half of the week.
Without any fresh developments on the US-Iran conflict, there wasn't much else to work with on the session. As such, the focus and attention now shifts to the US non-farm payrolls tomorrow.
Gold remains in the spotlight after early buying in Asia saw price run to a high of $4,303 before settling to $4,255 now - still up 0.2% on the day.
Meanwhile, oil prices are also keeping a little higher with WTI crude up 0.8% to $75.80 amid a more cautious mood surrounding the situation in the Middle East.
In other markets, the dollar was not up to much as currency traders continue to be sidelined in trying to figure out their next steps after the USD/JPY joint intervention. The dollar is keeping steadier today with EUR/USD down 0.1% to 1.1540 and USD/JPY up 0.1% to 157.90 currently.
And following the tech selloff yesterday led by SpaceX, Nasdaq futures are once again down today by 0.4%. Dow futures are once again keeping higher and that is seeing S&P 500 futures hold a slender 0.1% gain ahead of the open. All eyes will be on how tech shares fare next after some heavy bleeding in Asia with the KOSPI closing over 4% lower.
Besides that, 10-year Treasury yields are seen nudging back up a little by 3 bps to 4.64% and that will keep broader markets in check so as to not get all too optimistic in the grand scheme of things.
It's on to the US weekly jobless claims next before we move on to a full countdown mode ahead of the non-farm payrolls tomorrow.
Gold managed to break the triangle formation above 4166 where managed to rally yesterday toward target 4200-20 while managed to add more advance 4300
As we see over the chart, market facing support zone at 4200-20 where as long as market holding trades above it another advance toward 4330 and above will be expected
Below 4200 more drop to test 4150-60 may hit the market which in turn may activate the advance again
Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.
Gold (XAU/USD) consolidates its recent gains on Thursday after briefly climbing above $4,300 as the US Dollar (USD) steadies while traders await confirmation of a possible Iran-Oman agreement on the Strait of Hormuz. At the time of writing, XAU/USD trades around $4,270, up 0.53% on the day.
The precious metal rallied a little over 4% on Wednesday, hitting its highest level in seven weeks after Iran said it had reached an understanding with Oman on a proposed shipping route through the Strait. Tehran added that a joint statement containing the main points of the agreement was in the final stages of drafting.
Oil prices stay under pressure, creating a supportive backdrop for bullion. A sustained decline in energy prices would ease inflation concerns and reduce pressure on major central banks, particularly the Federal Reserve (Fed), to raise interest rates. Higher borrowing costs generally weigh on Gold by increasing the opportunity cost of holding the non-yielding metal.
Despite the recent decline, Oil prices still carry a significant geopolitical risk premium as tensions in the Middle East persist. Iran says the proposed agreement with Oman would establish only a temporary shipping route and would not amount to a full reopening of the Strait. Yemen’s Houthis also claim to have attacked two Saudi oil tankers, while Tehran denies holding talks with the United States, saying its discussions with Oman are strictly bilateral.
Against this backdrop, Gold struggles to extend its gains while inflation above the Fed’s 2% target keeps expectations of tighter monetary policy alive. Still, lower energy prices and softer US labour-market data have prompted traders to scale back bets on a September Fed rate hike. According to the CME FedWatch Tool, markets now see a 52.9% chance of a 25-basis-point (bps) increase in September, down from 63.4% a week earlier.
Attention now turns to Friday’s US Nonfarm Payrolls (NFP) report. According to TD Securities, July ADP employment data "surprised to the downside, moderating to 44k (TD: 50k, cons: 65k)." Analysts highlight that "both the monthly and weekly ADP data have moderated this summer after a strong start to the year," and they anticipate that "a similar trend is likely to occur with NFP job gains."
Technical analysis: Buyers regain control above 50-day SMA, $4,300 in focus
XAU/USD is recovering above the 50-day Simple Moving Average (SMA) at $4,157, but remains capped beneath the 100- and 200-day SMAs, keeping the broader tone neutral with a slight topside constraint.
The Relative Strength Index (RSI) at 61 on the daily chart leans toward bullish momentum, while the Moving Average Convergence Divergence (MACD) indicator holds in positive territory with the line above the signal and an expanding positive histogram, which together suggest improving upside pressure despite the overhead moving-average barrier.
On the topside, initial resistance is seen at the horizontal level around $4,300, ahead of the 100-day SMA at $4,393, with the 200-day SMA at $4,493 acting as a more distant cap.
On the downside, immediate support is provided by the reclaimed 50-day SMA near $4,157, with a deeper structural floor at the prior horizontal support around $4,000, where buyers would be expected to re-emerge if a pullback develops.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price Today The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Swiss Franc.
USDEURGBPJPYCADAUDNZDCHFUSD0.08%0.03%0.11%-0.11%0.25%0.12%0.31%EUR-0.08%-0.06%0.04%-0.18%0.13%0.05%0.23%GBP-0.03%0.06%0.09%-0.13%0.20%0.09%0.29%JPY-0.11%-0.04%-0.09%-0.22%0.13%0.02%0.22%CAD0.11%0.18%0.13%0.22%0.35%0.25%0.44%AUD-0.25%-0.13%-0.20%-0.13%-0.35%-0.09%0.09%NZD-0.12%-0.05%-0.09%-0.02%-0.25%0.09%0.22%CHF-0.31%-0.23%-0.29%-0.22%-0.44%-0.09%-0.22% The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Gold (XAU/USD) consolidates gains after appreciating nearly $200 this week, buoyed by lower US Treasury yields as traders dial down bets of immediate Federal Reserve (Fed) rate hikes. The precious metal trades at $4,270 at the time of writing, after pulling back from $4,300 earlier on Thursday, with bulls aiming for mid-June highs in the $4,380 area.
Analysts at MUFG note that political interference is increasingly being priced into the Dollar. They highlight Wall Street Journal reporting that President Trump has spoken to Fed Chair Warsh “repeatedly” since he took over at the Fed, with “bursts” of calls “several times in a stretch of days, which, in their opinion, “will only reinforce the impression of greater political influence undermining Fed independence.”
Technical Analysis: Gold confirms a trend shift
XAU/USD trades at $4,230, holding gains after breaking above a descending triangle, which suggests that the precious metal is heading through a bullish reversal. Momentum indicators in 4-hour charts show overstretched conditions, but dips are likely to find buyers. Relative Strength Index (14) is entrenched in overbought territory around 77, while the Moving Average Convergence Divergence (MACD) gauge remains firmly positive, which warns about a corrective pause.
On the topside, immediate resistance emerges at session highs in the $4,300, ahead of the June 17 high, around $4,380. Further up, the early June highs,m above $4,500, would come into focus.
Bearish reversals, on the other hand, are likely to be tested at previous highs around $4,200 (June 22, July 6 highs) ahead of the broken trendline resistance, now around $4,130 and Monday's low, near $4,020.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Gold’s bulls reawakenGold’s rally maybe have been the most sensational movement in the markets yesterday. The easing of market expectations for the Fed to tighten its monetary policy in combination with hopes for the Straits in Hormuz to reopen and a slight weakening of the USD in the FX market provided the necessary thrust for gold’s price to escape the inactivity last month’s inactivity. Should we see market worries for inflationary pressures in the US economy easing, given also Fed Chair Warsh’s mixed messaging, we may see gold’s price gaining further.
USD stabilises ahead of the US employment reportThe USD seems to stabilise ahead of the release of July’s US employment report tomorrow. Financial data releases were somewhat disappointing weighing, on the USD. The ADP national employment figure for July dropped more than expected, possibly negatively predisposing the markets for the NFP figure tomorrow. Furthermore, the ISM non-manufacturing PMI figure for July undershoot market expectations. On the contrary the Canadian Dollar was on the rise, with Loonie traders also preparing for the simultaneous release of Canada’s July employment data with the US employment data for the same month, tomorrow.
Mixed signals from US stock marketsUS equities sent mixed signals yesterday with S&P 500 and Nasdaq halting the rise, while Dow Jones’ bulls slowed down yet are still pushing to new record high levels. The tech sector remain in the epicenter of attention yet should the positive market sentiment be renewed, we may see the bullish tendencies restart across US equities. Also, the earnings season is still on and today we note Softbank’s and Airbnb’s reports.
Oil prices stabilise for nowOil prices tended to stabilise yesterday signalling some doubts about the prospects of a US-Iranian deal for the Straits of Hormuz. Reports note that the proposed deal, would allow Iran to control shipping entering the Straits, while US President Trump insisted that a deal is imminent. Further signs of a possible deal could weigh on oil prices even more, as market worries for the supply side of the oil market could be alleviated further.
Other highlights for todayToday we get Sweden’s preliminary CPI rates for July, Euro Zone’s and the UK’s Construction PMI figures also for July, Euro Zone’s retail sales for June, the US weekly initial jobless claims and the Czech Republic’s CNB interest rate decision. In tomorrow’s Asian session, we get Japan’s June Household spending and China’s July trade data, while San Francisco Fed President Daly speaks.
Charts to keep an eye outXAU/USD rallied yesterday breaking the 4205 (S1) resistance line, now turned to support. The upward movement was accompanied by an enhancement of the bullish market sentiment, given the rise of the RSI indicator, which allows us to adopt a bullish outlook for the precious metal’s price. Should the bulls maintain control as expected we may see the index aiming if not breaking the 4550 (R1) resistance level. Should the bears to take over, we may see gold’s price breaking the 4205 (S1) support line and continue lower aiming if not breaking the 3960 (S2) support level.
Nasdaq hit a ceiling at the 29675 (R1) resistance line yesterday and correcting slightly lower during today’s Asian session. The RSI remains just above the reading of 50 implying a bullish predisposition of the market for the index. Given that the index has interrupted its upward movement, we adopt a sideways motion bias for now, yet warn of a possible renewal of the index’s bullish tendencies. Should the bulls take over, Nasdaq may break the 29675 (R1) resistance level and start aiming for the 30770 (R2) resistance level, which marks and all Time high for the index. Should the bears take over, we may see the index aiming if not breaking the 28200 (S1) support line.
OCBC’s Christopher Wong and Sim Moh Siong highlight a sharp rebound in Gold as easing Middle East tensions weighed on Oil and US Treasury yields, softening the US Dollar. Technical buying and short covering accelerated once resistance broke, while central bank demand from the Bank of Korea added support. Near-term momentum is mildly bullish, with key resistance at 4333 and 4393 and support at 4160 and 4077.
Gold breakout on softer yields"Gold rose sharply overnight as easing Middle East tensions drove oil prices lower while US Treasury yields and USD eased. Market expectations for Fed to hike in Sep has eased. About 55% probability priced (vs. 66% a week ago). The sharp move in gold accelerated after prices cleared recent resistance, triggering technical buying and short covering."
"Gold’s strength suggests investors are increasingly pricing a de-escalation of the US-Iran conflict, a normalisation of oil flows through the Strait of Hormuz, lower real interest rates and a softer USD."
"News that the Bank of Korea is preparing to purchase domestically produced gold for the first time in 13 years and that they had recently begun buying gold ETF may also have provided a modest sentiment boost, although the scale and timing of its purchases remain unclear."
"Near-term momentum has improved, with Friday’s upcoming US payrolls report now key to whether the decline in yields, USD and gold’s breakout can be sustained."
"Daily momentum is mild bullish while RSI rose to near overbought conditions. Resistance at 4333 (23.6% fibo retracement of 2026 high to low), 4393 (100 DMA). Support at 4160 (50 DMA), 4077 (21 DMA)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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Gold prices rose in Philippines on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 8,315.11 Philippine Pesos (PHP) per gram, up compared with the PHP 8,284.74 it cost on Wednesday.
The price for Gold increased to PHP 96,986.33 per tola from PHP 96,631.53 per tola a day earlier.
Unit measure
Gold Price in PHP
1 Gram
8,315.11
10 Grams
83,151.54
Tola
96,986.33
Troy Ounce
258,628.50
FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in Saudi Arabia on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 514.84 Saudi Riyals (SAR) per gram, up compared with the SAR 512.89 it cost on Wednesday.
The price for Gold increased to SAR 6,004.95 per tola from SAR 5,982.25 per tola a day earlier.
Unit measure
Gold Price in SAR
1 Gram
514.84
10 Grams
5,148.35
Tola
6,004.95
Troy Ounce
16,012.76
FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in United Arab Emirates on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 502.92 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 501.53 it cost on Wednesday.
The price for Gold increased to AED 5,866.34 per tola from AED 5,849.72 per tola a day earlier.
Unit measure
Gold Price in AED
1 Gram
502.92
10 Grams
5,029.55
Tola
5,866.34
Troy Ounce
15,642.81
FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in Pakistan on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 37,958.86 Pakistani Rupees (PKR) per gram, up compared with the PKR 37,862.81 it cost on Wednesday.
The price for Gold increased to PKR 442,748.80 per tola from PKR 441,624.40 per tola a day earlier.
Unit measure
Gold Price in PKR
1 Gram
37,958.86
10 Grams
379,593.00
Tola
442,748.80
Troy Ounce
1,180,667.00
FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in Malaysia on Thursday, according to data compiled by FXStreet.
The price for Gold stood at 560.01 Malaysian Ringgits (MYR) per gram, up compared with the MYR 558.23 it cost on Wednesday.
The price for Gold increased to MYR 6,531.79 per tola from MYR 6,511.07 per tola a day earlier.
Unit measure
Gold Price in MYR
1 Gram
560.01
10 Grams
5,600.05
Tola
6,531.79
Troy Ounce
17,418.14
FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold (XAU/USD) builds on the previous day's blowout rally of over 4% and advances for the fourth straight session, rising to its highest level since June 18 during the Asian session on Thursday. Hopes of a potential US-Iran peace deal and the reopening of the Strait of Hormuz dragged crude oil prices to an over three-week low on Wednesday. Iran said on Wednesday that it is in the final stage of drafting an agreement with Oman over the strategic waterway, which could help bring an end to the five-month-old US-Iran war. This eased inflation fears and forced traders to scale back their bets for a more aggressive tightening by the US Federal Reserve (Fed). The outlook keeps US Treasury bond yields and the US Dollar (USD) depressed, and is seen supporting the bullion.
Adding to this, the Automatic Data Processing (ADP) reported on Wednesday that private-sector employment in the US grew by 40K in July, marking a notable slowdown from the 95K in the prior month and missing consensus estimates. Separately, data from the Institute for Supply Management (ISM) showed the Services PMI improved a tad to 54.1 in July from 54.0 in the previous month, coming in below expectations for a reading of 54.5. Following the softer data, the probability for a September Fed rate hike eased to roughly 55% from 67%, which continues to undermine the Greenback and acts as a tailwind for the non-yielding Gold. That said, a slew of prominent Fed officials recently warned that persistent inflation risks could necessitate further interest rate hikes.
Fed Governor Lisa Cook stated that inflation remains too high and she is prepared to act by raising interest rates if disinflation stalls, warning that the central bank cannot afford to wait indefinitely if price pressures fail to ease. Meanwhile, San Francisco Fed President Mary Daly noted that officials need more data before the September meeting to see if inflation is temporary or lasting. Nevertheless, traders are still pricing in around an 80% chance that the US central bank will raise borrowing costs by the end of this year amid inflation risks stemming from supply disruptions through the Red Sea. In fact, Iran-backed Houthis in Yemen said that they had launched a missile attack on a Saudi oil tanker off the coast of the port city of Yanbu and another in the Gulf of Aden.
This keeps the geopolitical risk premium in play and helps limit the downside in crude oil prices. Moreover, USD bears seem hesitant and opt to wait for the release of the closely-watched US monthly employment details – popularly known as the Nonfarm Payrolls (NFP) report on Friday – for more cues about the Fed's future policy path. In the meantime, Thursday's US economic docket features the usual Weekly Initial Jobless Claims, which, along with comments from influential FOMC members, will drive the USD demand. Apart from this, further developments surrounding the Middle East crisis could infuse volatility in the global financial markets, which could further provide some impetus to the buck and produce short-term trading opportunities around Gold.
XAU/USD daily chart
Technical Analysis: Gold bulls now await move beyond 23.6% Fibo. before placing fresh betsThe overnight strong move up beyond the 50-day Simple Moving Average (SMA) for the first time since March 17, was seen as a fresh trigger for XAU/USD bulls. Moreover, a firming Moving Average Convergence Divergence (MACD) at 29.52 and a Relative Strength Index (RSI) at 61.28 hint at improving bullish momentum. However, it will still be prudent to wait for some follow-through buying beyond the 23.6% Fibonacci retracement level of the March-June downfall before positioning for any further gains.
The precious metal might then aim to challenge the $4,500 psychological mark – representing the 200-day SMA and the 38.2% Fibo. level confluence. Higher up, the 50.0%, 61.8% and 78.6% retracements at $4,678.89, $4,853.49 and $5,102.07 respectively outline subsequent bullish objectives if the current band is cleared. On the downside, immediate support is provided by the 50-day SMA at $4,157.24, while a deeper setback would likely look toward the Fibonacci cycle low area near $3,939.05 as a more substantial structural floor.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, it raises interest rates, increasing borrowing costs throughout the economy. This results in a stronger US Dollar (USD) as it makes the US a more attractive place for international investors to park their money. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates to encourage borrowing, which weighs on the Greenback.
The Federal Reserve (Fed) holds eight policy meetings a year, where the Federal Open Market Committee (FOMC) assesses economic conditions and makes monetary policy decisions. The FOMC is attended by twelve Fed officials – the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Reserve Bank presidents, who serve one-year terms on a rotating basis.
In extreme situations, the Federal Reserve may resort to a policy named Quantitative Easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used during crises or when inflation is extremely low. It was the Fed’s weapon of choice during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy high grade bonds from financial institutions. QE usually weakens the US Dollar.
Quantitative tightening (QT) is the reverse process of QE, whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing, to purchase new bonds. It is usually positive for the value of the US Dollar.
Gold is extending the previous big breakout, briefly testing the $4,300 level for the first time in seven weeks in the Asian session on Thursday.
Gold cheers Strait of Hormuz reopening hopesNothing seems to have changed fundamentally for Gold since a day ago, as hopes for the reopening of the Strait of Hormuz are coming to life after Iran said on Wednesday that it is close to finalizing a proposed framework for commercial shipping through the Strait with Omar, per The Guardian.
The optimism around the reopening of the vital waterway in the Gulf eases supply disruption concerns and keeps Oil prices mired in three-week lows.
Weakening Oil prices alleviate inflation worries, prompting markets to scale back their bets on a US Federal Reserve (Fed) interest rate hike in September.
Markets are pricing in a roughly 55% chance that the Fed will raise rates in September, down from about 60% a day ago, according to the CME Group’s FedWatch Tool.
That’s exactly what is weighing on the US Dollar (USD), while boosting non-yielding assets such as Gold.
Earlier on, Fed's Daly delivered a moderately cautious message, with a FXS Speechtracker score of 5.4/10, slightly softer relative to the historical average of 5.6/10. Daly highlighted that tariffs had a clear impact on inflation but now show signs of fading, while technology investment is currently adding upward pressure, and supply shocks are seen as largely temporary with longer-run inflation expectations still well anchored but not to be taken for granted. The tone leans toward balanced risk management, supportive of holding rates steady while emphasizing data dependence and the evolving mix of supply-side forces.
The FXS Fed Sentiment Index fell by 2.23 points to 138.69, signaling a modest pullback in perceived hawkishness following the speech. Despite the decline, the index remains firmly in hawkish territory above 100, indicating that markets still see the Fed as biased toward tighter policy even as the tone cools slightly compared to recent communications.
Further, disappointing US ADP jobs and headline ISM Services PMI data continue to undermine the USD and Fed rate hike odds, keeping Gold price upside going strong.
The ADP said on Wednesday that US private sector employment increased by 44,000 jobs in July, against a growth of 70,000 jobs expected. Meanwhile, the ISM Services PMI came in at 54.1 in July, but missed the forecast of 54.5.
Looking ahead, all eyes will remain on the Middle East developments, especially after Israel launched attacks in southern Lebanon after accusing Hezbollah of violating the ceasefire.
The Mideast situation remains fragile also after Yemen’s Iran-aligned Houthi rebels said they targeted a Saudi oil tanker in the Red Sea as part of their naval blockade of Saudi Arabia.
If the Gulf conflict re-escalates, hampering the Strait of Hormuz reopening deal, Gold could see a steep correction toward the $4,150 demand area.
However, the daily technical setup suggests that more upside remains in the offing, as traders brace for Friday’s US Nonfarm Payrolls (NFP) release.
Gold price technical analysis: Daily chart
In the daily chart, XAU/USD trades at $4,274.80. The metal holds a bullish near-term bias as it trades above the 21-day and 50-day simple moving averages (SMAs) at $4,078.38 and $4,157.48, while the 100-day SMA at $4,393.96 and the 200-day SMA at $4,493.07 still loom overhead as medium-term caps. The Relative Strength Index (14) at 61.94 shows firm positive momentum, hinting that buyers retain control though conditions are edging toward overbought territory.
On the topside, initial resistance is located at the 100-day SMA near $4,394, followed by the 200-day SMA around $4,493, where a break would open the way for a stronger extension of the bullish trend. On the downside, immediate support is seen at the recent price pivot around $4,275, ahead of the 50-day SMA at $4,157 and the 21-day SMA near $4,078; a deeper slide could revisit the rising trend-line support drawn from $3,951, where buyers would be expected to re-emerge.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold positioning shifts as TD Securities flags renewed macro supportAccording to TD Securities, "macro headwinds being pushed out on the horizon, along with US-Iran deal hope, have put some major wind in the precious metals sails." Strategists at the bank note that, when "decomposing managed money gold positions," macro discretionary funds "have more than doubled their positions since June," acting as consistent dip buyers and "protecting the $4000/oz level." TD Securities adds that "the momentum generated from these cohorts' renewed appetite is now forcing CTAs to turn heavy buyers, exaggerating the move to the upside," as systematic accounts are drawn into the rally by the improving trend in positioning.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Spot gold weekly chart shows larger trend structure. Source: TradingView Next Resistance Levels Come Into View Initial upside target zone is near trend structure at $4,382 and the 100-day moving average, which is now at $4,398 and falling. That zone is followed by the more significant 200-day moving average near $4,493. Technically, the long-term outlook improves if gold gets above and stays above that long-term trend indicator.
A Narrowing Range Sets the Stage As recent consolidation evolved, the price range continued to narrow, setting the stage for a sharp breakout as demand builds. Also, the low for Wednesday at $4,065 was a clear test of support prior to the acceleration in momentum. That makes Wednesday only the second day since April where the full range of the session was above that average. This is bullish behavior that is not uncommon prior to a strong breakout.
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Gold (XAU/USD) price surges to its highest level in nearly seven weeks, gaining nearly 3.80% on Wednesday as the Greenback loses ground and US Treasury yields fail to gain traction. The XAU/USD pair trades at $4,232, its highest level since June 18, after bouncing off daily lows of $4,065.
Bullion clears $4,200 on USD weakness, soft ADP data and Hormuz deal hopesThe yellow metal strengthened sharply as it cleared the 50-day Simple Moving Average (SMA) at $4,161, clearing on its way north the $4,200 mark. The US Dollar Index (DXY), which tracks the buck’s performance against a basket of six currencies, is down 0.12% at 99.76.
The US economic docket is busy this week, with traders eyeing the release of the July Nonfarm Payrolls figures on Friday. Economists expect job creation of 80K and the Unemployment Rate to remain steady at around 4.2%.
Earlier, the July ADP Employment Change report was weaker than anticipated, dropping from 98K to 44K, below the forecast of 70K. The data indicated that education and health services increased their workforce by 36K, whereas leisure and hospitality decreased by 11K.
At the same time, business activity in the services sector remained strong in July, according to the Institute for Supply Management (ISM). The ISM Services PMI improved from 54 to 54.1, though it missed estimates by 0.4 points. The sub-components of employment and prices paid contracted and expanded, respectively. The Employment diffusion index dipped from 51.2 to 47.4, while the Prices Paid rose from 67.7 to 70.3, extending the trend to 110 months.
Fed Regional Bank Presidents remain hawkish amid a split FOMCMinneapolis Federal Reserve (Fed) President Neel Kashkari stated that it is now appropriate to start gradually raising rates, emphasising moderate increases rather than dramatic hikes. Meanwhile, Jeffrey Schmid of the Kansas City Fed indicated that a strict monetary policy is necessary to address inflation considered "too high."
The de-escalation of the Gulf War is a tailwind for the non-yielding metal. Although crude prices are edging lower and easing inflationary pressures, investors remain skeptical of a positive outcome, as they expect a 25-basis-point rate hike by the Federal Reserve at the September meeting, according to Prime Terminal.
Source: Prime TerminalA report by N12, citing American officials, commented that the signing of an agreement to reopen the Strait of Hormuz would be possible as early as Wednesday.
XAU/USD technical outlook: Gold clears the latest cycle high, as market structure shifts neutralGold price has shifted to a neutral stance after the yellow metal surpassed the 50-day Simple Moving Average (SMA) at $4,161, opening the door for further gains. Momentum has shifted bullishly, as indicated by the Relative Strength Index (RSI), meaning that in the near term, the path of least resistance is upward.
XAU/USD’s first resistance is the $4,300 mark. Above lies the June 17 cycle high of $4,382, ahead of reaching the 100-day SMA at $4,499 near the psychological $4,500 mark.
On the flip side, the first support is the July 6 high, which turned into support at $4,202. A breach of the latter will expose the 50-day SMA, followed by the $4,100 mark. Beneath is the August 3 daily low of $4,019. Breaking that level could lead to a decline to $4,000.
Gold daily chart Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Gold (XAU/USD) is accelerating its rebound near $4,250 at the time of writing on Wednesday amid easing geopolitical tensions after United States (US) President Donald Trump said that a deal to reopen the Strait of Hormuz was imminent. Bitcoin (BTC) mirrors the metal’s near-term bullish bias, edging higher toward the resistance at $65,000.
Trump eyes reopening of the Strait of HormuzPresident Trump told reporters on Tuesday that “a lot of progress had been made” in the discussions of reopening the Strait of Hormuz, and intimated that an announcement could be made as soon as Wednesday.
Moreover, a CNN report states that a senior Gulf official said that there is a “50-50” chance that Iran could reach a deal amid the ongoing strategic talks with Oman on reopening the waterway.
Despite Trump’s optimism, Iranian state media said earlier this week that any agreement with Oman over the Strait of Hormuz has “no connection” to its reopening.
Meanwhile, appetite for risk assets appears to be improving albeit gradually, as reflected in the crypto Fear & Greed Index, which is embedded in Fear territory at 28 on Wednesday, up from 25 in the Extreme Fear region the day before. A sustained recovery could ensue should investors increase risk exposure, absorbing selling pressure.
Crypto Fear & Greed Index | Source: AlternativeTechnical analysis: Bitcoin bulls gain groundBitcoin trades around $64,540, keeping a mildly bearish near-term bias as it holds inside a downward parallel channel and below a dense layer of exponential moving averages (EMAs). The spot price also holds just above the channel’s upper boundary near $64,405, which now acts as immediate support, but remains capped by the 50-day EMA at $64,659, with the 100-day EMA at $67,096 reinforcing broader downside pressure overhead.
The Relative Strength Index (RSI) around 53 on the daily chart hints at neutral-to-slightly positive momentum, while the Moving Average Convergence Divergence (MACD) remains in negative territory, suggesting that any rebounds are still occurring within a corrective, capped structure.
BTC/USDT daily chartThe first resistance is the 50-day EMA at $64,659, followed by the Parabolic SAR signal near $65,604, where selling interest could intensify if price extends higher, before the more distant 100-day EMA at $67,096 defines the broader bearish cap. On the downside, initial support lies at the upper boundary of the descending channel around $64,405, with the channel floor near $61,262 as the next key downside objective should sellers regain control.
Technical outlook: Gold extends recoveryGold trades around $4,256, holding above the 50-day EMA at $4,187 but still capped beneath the 200-day EMA at $4,279 and the 100-day EMA at $4,316, which keeps the broader outlook only cautiously constructive.
The break and subsequent hold above the former downward-resistance trendline, whose key break price sits near $4,000, hints at an improving structure, while the MACD has turned firmly positive and the RSI at 61 shows strengthening bullish momentum rather than overbought conditions.
XAU/USDT daily chartImmediate resistance lies at the 200-day EMA around $4,279, with a subsequent barrier at the 100-day EMA near $4,316. A daily close above this capped area would likely open the door to a more decisive bullish phase. On the downside, initial support is seen at the current price area as an immediate pivot, followed by the 50-day EMA at $4,187, while the broken descending trendline around $4,000 stands as a deeper structural floor if a corrective pullback develops.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Gold price rose over 3% and hit the highest in nearly six weeks on Wednesday, lifted by fresh wave of optimism over a peace talks between the US and Iran, which eased inflation concerns and deflated the US dollar.
This was so far the strongest market reaction in more than one month, as fresh rally violated range top ($4203), reinforced by the base of falling and thickening daily Ichimoku cloud, generating significant bullish signals.
However, signals require confirmation on sustained break above these barriers that would open way for stronger recovery and expose next key barrier at $4304 (Fibo 38.2% of $4889/$3942) violation of which to generate reversal signal.
Strengthening positive momentum and formation of daily Tenkan/Kijun-sen bull cross, show positive developments on daily technical studies, which contributes to improving near-term outlook.
Geopolitical factor is likely to remain key price driver, with traders being cautious and focus on comments from President Trump (so far known for quick changes of direction of his views that kept market action highly volatile) that would continue to strongly impact traders’ sentiment.
Fresh acceleration higher is likely to face increased headwinds at $4200 zone, due to significance of these barriers, as some investors may decide to collect profits, however subsequent dips should hold above $4166 (broken Fibo 23.6% of $4889/$3942) to revived bulls in play.
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Elevated Interest Rates and 200-Day EMA Present Resistance So, it is because of this that I’m not willing to jump in and just start buying gold hand over fist, although this is the first strong signal that we could remain bullish. The 200-day EMA sits just above as well, so technical analysis would suggest a little bit of noise in this area regardless.
So, taking my time is how I plan on playing this market, looking for value. I do like gold longer term; I’ve said that all along, but I also recognize that as long as interest rates remain somewhat elevated, it might be a little bit difficult to get aggressive in the gold market to the upside. That being said, eventually all things come to an end, and maybe this situation will, and the gold market could continue its overall uptrend. We’ll just have to wait and see. The size of the candle so far is pretty impressive; we’ll have to see how that plays out as well, but ultimately a little bit of patience probably goes a long way here.
Gold and silver are tracing bullish breakout risks above their June-August consolidations as market optimism grows over a potential US-Iran deal. However, geopolitical risks continue to persist.
As silver breaks above $61 and gold reclaims $4,100, key developments to watch include:
The DXY maintaining its position above its 2026 uptrend and the 99.30 support level. DXY analysis Crude oil holding above $70. Crude oil analysis Inflation uncertainty related to the prolonged disruptions across the Middle East remaining a key concern. Should headlines continue to progress toward a sustainable resolution, market uptrends are expected to extend. However, any deterioration in negotiations could trigger significant downside risks as market sentiment quickly reverses.
To minimize headline noise, price action analysis helps clarify the technical scenarios ahead.
Gold Price Forecast: 6-Month Time Frame – Log Scale
Source: Trading view
From a six-month perspective, gold is rebounding from one of the most significant technical confluence zones in decades.
The 27.2% Fibonacci retracement of the secular advance from 1920 to 2026. The long-term trendline connecting the major highs recorded between 2016 and 2025. What previously acted as resistance has now become one of the market's most important long-term support levels in 2026. The close of a six-month shooting star reversal pattern. However, given the significance of this support zone and the fragile nature of the US-Iran situation, a sustained break below this confluence and the 3,930 support level would expose the 38.2% Fibonacci retracement between 3,500 and 3,460, an area that acted as major resistance throughout much of 2025.
Whether gold continues its rebound from this area or extends its correction will largely depend on:
Crude oil price direction. Crude Oil Outlook: What the 1973 Oil Embargo Tells Us About the 2026 Hormuz Crisis Developments surrounding the US-Iran conflict and the Strait of Hormuz. The Federal Reserve's policy outlook and US Treasury yields. US Dollar (DXY), USD/JPY Forecast: Key Levels to Watch Gold Price Forecast: Daily Time Frame – Log Scale
Source: Trading view
In line with the strength of this higher-time-frame support zone, gold is tracing a bullish breakout above the June-August contracting consolidation, ranging between 3,930 and 4,200, and above the descending resistance guiding price action since March 2026.
Key support: 3,960-3,930
Gold Bullish Scenario
A sustained recovery above 4,140 and 4,200 would shift the short-term outlook back in favor of buyers.
That would expose the next resistance levels near the 23.6 – 27.2% retracement of the yearly decline:
4,340 4,400 A breakout above 4,400 would strengthen the case for a broader recovery across precious metals while increasing confidence that the longer-term uptrend has resumed.
Meanwhile, the daily RSI continues to push into bullish territory, suggesting accelerating momentum.
Gold Bearish Scenario
On the downside, a break below the 4,020-3,960-3,930 support zone would reactivate the bearish scenario.
The next downside objectives are:
3,880-3,840, corresponding to the October 2025 lows. 3,700. 3,500-3,460, the well-respected five-month resistance zone throughout 2025 and the 38.2% Fibonacci retracement of the 1920-2026 advance. These longer-term support zones could provide another significant reversal opportunity.
As long as the US Dollar Index and crude oil remain firm, downside risks across currencies and precious metals are likely to remain elevated.
Silver Price Forecast: 6-Month Time Frame – Log Scale
Source: Trading view
The six-month chart highlights several important long-term technical developments.
A shooting star reversal candle. A hold near the 50% Fibonacci retracement of the secular advance from 1930 to 2026. Price action facing the multi-decade trendline connecting the highs recorded between 1980 and 2024, which may now transition from long-term resistance into major support should another breakdown in silver prices occur below $55.
This area also aligns with the 61.8% Fibonacci retracement of the entire advance between $46 and $50.
The shorter-term outlook suggests signs of bullish recovery, which becomes clearer on the daily chart below.
Silver Price Forecast: Daily Time Frame – Log Scale
Source: Trading view
From a daily perspective, silver is attempting to stabilize above the descending trendline connecting the lower highs formed since May 2026, while also holding above the June-August consolidation and the $61 resistance level.
At the same time, momentum indicators continue pointing higher, remaining above the neutral 50 level and supporting the short-term bullish outlook.
A breakout above $61 exposes $63.80, $68, and $72. A break below $55.50 would expose the longer-term support zone between $50 and $46. Long-Term Outlook
A confirmed breakout above $72 would significantly strengthen confidence that a broader bullish reversal is underway, reopening the path toward triple-digit silver prices over the longer term.
Key Takeaway
The US Dollar Index (DXY) will remain one of the primary benchmarks for both the foreign exchange and precious metals markets as geopolitical risks and Federal Reserve expectations continue to evolve.
The 101.80-102.00 resistance zone remains the key level to watch for upside risks in the dollar and downside risks across currencies and precious metals. The 99.30 support zone remains the key level to watch for downside risks in the dollar and upside risks across currencies and precious metals. Written by Razan Hilal, CMT
The GBPUSD(pound) found a bounce as price action looks to gain a foothold after a recent surge in the dollar.
A new low below 1.3450 suggested a bearish continuation after the recent rally. The upbeat market sentiment could attract more trend followers. The psychological level of 1.3500 is next, where more buyers could enter the market. As the RSI ventures away from the overbought area, 1.3360 is the closest support as a slight bearish divergence emerges.
XAUUSD bounces back
Gold looks to test the recent high at 4100 as the metal looks towards another fresh high.
Prices seem to have found a solid foundation at 4060, from where the bulls hope the precious metal is hitting support. 4020 at the recent low is a critical support to keep the rebound momentum intact. On the upside, a break at the previous top could pave the way to a break at 4140, and then another rally towards a fresh high. USOIL crashes lower
Peace talks intensified as oil traders look for the possibilities of a ceasefire in the Middle East.
A close below 75.50 could open the door to a broader sell-off in the medium-term by forcing buyers to cut their losses. A bullish divergence could alleviate the pressure if there is a turnaround. The round number of 80.00 would be the first target in that case. 73.00 is the level to assess if the sell-off will continue.
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Market Strategist at Orbex David Kindley is a renowned fundamental analyst with over 10 years of trading experience in the financial markets. With a keen eye for macroeconomics and a special focus on trading psychology, David is passionate about helping everyday investors make informed trading decisions through his thorough research and analysis.
Gold prices rose in Pakistan on Wednesday, according to data compiled by FXStreet.
The price for Gold stood at 36,941.59 Pakistani Rupees (PKR) per gram, up compared with the PKR 36,426.64 it cost on Tuesday.
The price for Gold increased to PKR 430,890.30 per tola from PKR 424,873.20 per tola a day earlier.
Unit measure
Gold Price in PKR
1 Gram
36,941.59
10 Grams
369,424.30
Tola
430,890.30
Troy Ounce
1,149,020.00
FXStreet calculates Gold prices in Pakistan by adapting international prices (USD/PKR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in Malaysia on Wednesday, according to data compiled by FXStreet.
The price for Gold stood at 544.38 Malaysian Ringgits (MYR) per gram, up compared with the MYR 536.36 it cost on Tuesday.
The price for Gold increased to MYR 6,349.56 per tola from MYR 6,256.04 per tola a day earlier.
Unit measure
Gold Price in MYR
1 Gram
544.38
10 Grams
5,443.92
Tola
6,349.56
Troy Ounce
16,932.12
FXStreet calculates Gold prices in Malaysia by adapting international prices (USD/MYR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold prices rose in India on Wednesday, according to data compiled by FXStreet.
The price for Gold stood at 12,635.95 Indian Rupees (INR) per gram, up compared with the INR 12,450.08 it cost on Tuesday.
The price for Gold increased to INR 147,364.90 per tola from INR 145,215.30 per tola a day earlier.
Unit measure
Gold Price in INR
1 Gram
12,635.95
10 Grams
126,341.00
Tola
147,364.90
Troy Ounce
393,019.80
FXStreet calculates Gold prices in India by adapting international prices (USD/INR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.
Gold FAQs Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
(An automation tool was used in creating this post.)
Gold.com (GOLD - Free Report) closed at $42.90 in the latest trading session, marking a +1.83% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 1.79%. Meanwhile, the Dow gained 1.71%, and the Nasdaq, a tech-heavy index, added 2.59%.
Coming into today, shares of the precious metals trading company had lost 4.36% in the past month. In that same time, the Finance sector gained 2.19%, while the S&P 500 gained 1.72%.
Market participants will be closely following the financial results of Gold.com in its upcoming release. In that report, analysts expect Gold.com to post earnings of $0.96 per share. This would mark year-over-year growth of 26.32%. Alongside, our most recent consensus estimate is anticipating revenue of $7.76 billion, indicating a 209.04% upward movement from the same quarter last year.
GOLD's full-year Zacks Consensus Estimates are calling for earnings of $5.31 per share and revenue of $28.27 billion. These results would represent year-over-year changes of +144.7% and +157.52%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Goldcom. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Gold.com is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Gold.com's current valuation metrics, including its Forward P/E ratio of 11.61. This represents a premium compared to its industry average Forward P/E of 11.4.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 157, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Spot gold daily chart shows larger trend structure. Source: TradingView $4,166 Test Comes into View It is interesting to note that the 50-day moving average has now fallen to the next key price target at the recent lower swing high of $4,166. That adds to the significance of that resistance area and therefore to the importance of the price response there, which could show strong resistance or a decisive breakout above that key pivot zone. The falling 50-day moving average was recognized as resistance several times recently during short-term upswings. A decisive reclaim of the average would therefore be significant, while another rejection would reinforce its role as resistance. A breakout above it would likely signal that the downtrend is weakening and the developing advance is strengthening.
A Break Above $4,203 Changes the Picture The more significant lower swing high is at $4,203, which is part of the bearish trend structure and therefore represents a key initial upside target. A rally above it will signal a reversal of the nearby downtrend and open the door to further strengthening. If this occurs, the first upside target is near the lower swing high of $4,382 and the 100-day moving average near $4,403 and falling. For now, the ability to hold above the 20-day moving average keeps that bullish scenario alive, with a move through $4,166 and then $4,203 providing progressively stronger confirmation.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
XAU/USD Current price: $ 4,087Hopes for a Strait of Hormuz reopening put pressure on the US Dollar.The United States macroeconomic calendar gyrates around employment figures this week.XAU/USD is mildly bullish in the near term, still needs to reconquer $4,100. The US Dollar (USD) is under mild selling pressure on Tuesday, pressured by headlines indicating that a deal to reopen the Strait of Hormuz could be reached as soon as Wednesday.
Tensions between the United States (US) and Iran have fluctuated heavily in recent weeks, with two weeks of continued crossfire in the Middle East abruptly pausing late in July. In the last few days, mediation has continued with little progress, yet Tuesday brought some relief as representatives from both sides hinted at reopening the critical sea passage in the next couple of days.
On the one hand, US Treasury Secretary Scott Bessent said that a deal with Iran to reopen the Strait of Hormuz could be reached as soon as Tuesday or Wednesday in an interview with CNBC. On the other hand, Al Arabiya reported that the full reopening of the Strait of Hormuz may be “within hours or tomorrow,” according to a high-level source.
The news fueled risk appetite, pushing stock markets firmly up and putting modest pressure on the Greenback. Such pressure was, however, barely enough to lift precious metals within range. XAU/USD surged towards the $4,090 price zone, still confined within July’s tight range.
Other than that, the US reported that the number of job openings stood at 7.359 million in June, easing from the7.537 million openings reported in May, according to the JOLTS Job Openings report. The news adds modest pressure on the Greenback, yet market participants await more US employment-related figures: On Wednesday, the country will publish the July ADP Employment Change, ahead of the Nonfarm Payrolls (NFP) report scheduled for Friday.
Employment figures, while relevant in terms of future Federal Reserve (Fed) monetary policy decisions, may not have a relevant impact on the USD as long as data shows the labor market remains stable. Policymakers are clearly more worried about inflation.
XAU/USD short-term technical outlook
From a technical perspective, the 4-hour chart indicates XAU/USD is bullish in the near term. Spot holds above the clustered simple moving averages, with the 20-period Simple Moving Average (SMA) at $4,067.46, the 100-period SMA at $4,052.89, and the 200-period SMA at $4,072.15 all acting as underlying support. The Relative Strength Index (RSI) indicator aims north at 57, while the Momentum indicator turns higher above its midline, which together hint at sustained upward pressure as long as price holds above these moving-average floors.
In the daily chart, XAU/USD remains neutral. The metal holds just above the 20-day SMA at $4,060.47, but remains well below the 100-day and 200-day SMAs at $4,407.09 and $4,490.17, respectively, which keeps the broader backdrop bearish despite a modest near-term bounce. The RSI indicator hovers around a neutral 49, while the 14-day Momentum indicator is also flat around its midline, reflecting the lack of directional strength.
On the downside, initial support is seen at the 200-period SMA around $4,072.15, followed by the short-term 20-period SMA at $4,067.46 and then the 100-period SMA at $4,052.89, where a deeper pullback would likely meet buyers. Immediate technical resistance comes in the $4,120 region, where Gold has met sellers over the last few days. Gains beyond the area expose the $4,150 price zone.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
/ / Gold is in consolidation above the yearly low for a seventh-consecutive week, with the next breakout likely to determine the August outlook.
04/08/2026
8/4/2026 2:54:00 PM
Gold Technical Outlook: XAU/USD Multi-Timeframe Analysis Gold price analysis shows the metal coiling in a seven-week range just above its yearly lows as momentum grinds to its weakest since late 2023. Michael Boutros, FOREX.com Senior Market Analyst, breaks down gold across the weekly, daily, and four-hour charts and the fundamentals that could drive its next directional move. Boutros explains why gold has stalled in a tightening consolidation range and what a genuine breakout would take to confirm a more significant low. He also weighs how Federal Reserve rate expectations and the upcoming ADP employment and nonfarm payrolls releases could shape where gold goes next.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
Key US Economic Data Releases
Active Short-term Technical Charts
Euro Short-term Outlook: EUR/USD Breakout Risk Builds Into Month-End Swiss Franc Short-term Outlook: USD/CHF Rally Presses Yearly Trend Resistance Canadian Dollar Short-term Outlook: USD/CAD Rebound Challenges the July Downtrend Australian Dollar Outlook: AUD/USD Rally Tests Make-or-Break Resistance Japanese Yen Short-term Outlook: USD/JPY Defends the Uptrend as the Range Tightens British Pound Short-term Outlook: GBP/USD Breakout Attempts Major Trend Reversal US Dollar Short-term Outlook: USD Uptrend Faces Make-or-Break Test After CPI --- Written by Michael Boutros, Senior Technical Strategist
Follow Michael on Twitter @MBForex
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The gold market continues to be one that is noisy, as we are looking to see what happens next with inflation, and the Middle East – two things that are connected now. At this point, many are “stuck” here.
Gold Technical Analysis
Gold futures trade around 4,138.9, consolidating above the 4,000.0 level while holding below both the 50-day and 200-day EMAs. Source: TradingView. The gold market has rallied just a touch during the trading session here on Tuesday, but really, at this point in time, we have a market that is stuck between the 50-day EMA and the $3,900 level. This $300 range roughly has contained the market for well over a month and we are in a situation where traders continue to look at this as a market that is trying to figure out where to go next. This remains a serious problem from what I see.
Middle East Uncertainty and Bond Yields Keep Gold Range-Bound The interest rate markets have drifted a little bit lower in yield during the session, but we’ve seen this play out multiple times. The overall attitude of market participants will continue to see a lot of questions asked about the Middle East and what the overall energy situation will be and by extension inflation. This is a correlation that will continue to be on the minds of many traders out there, with the Strait of Hormuz a major factor.
So, while bond traders believe there is more inflation coming, the wider market seems to be arguing with them. The bond market and the interest rates have a major influence on what happens with gold. Right now, we’re just simply stuck waiting for some type of resolution or, unfortunately, flare-up coming out of the Middle East to determine what to do next. As things stand right now short-term traders seem to be very happy in this range and that’s pretty much how I look at it as well.
If you’d like to know more about how to trade gold and silver, please visit our educational area.
Vancouver, British Columbia--(Newsfile Corp. - August 4, 2026) - Rua Gold Inc. (TSX: RUA) (NZX: RGI) (OTCQX: NZAUF) (FSE: X9R) ("RUA GOLD" or the "Company") is pleased to announce that it has received required regulatory approval to commence exploration drilling at the Glamorgan Project, an epithermal gold project in the Hauraki Goldfield on New Zealand's North Island.
The Hauraki Goldfield is a major epithermal gold province, where more than 50 historic mines have collectively produced over 15 million ounces of gold. The Glamorgan Project is adjacent to OceanaGold's Wharekirauponga deposit, which hosts Indicated Mineral Resources of 1.5Moz at 17.3 g/t Au1. The Wharekirauponga project received final permitting approval in December 2025 following a 112-day review process and is now under construction.
Highlights:
Extensive surface exploration and data analysis completed at the Glamorgan Project over the past 2 years have identified several compelling drill targets.
The Company has received approval for nine drill pads, allowing it to test the three most compelling drill targets.
Construction of protective fencing, the exploration camps and drill pads will commence immediately following ecological checks.
A fully funded initial exploration program of approximately 9,000m has been planned across the targets with drilling expected to commence in Q4 2026.
Simon Henderson, Chief Operating Officer, has more than 30 years of experience in this region of New Zealand and played an integral role in the discovery of Wharekirauponga.
Surface exploration completed to date has identified classic features of a major epithermal gold-silver system, comparable to those observed at the Wharekirauponga project, located just 2.8 km to the south.
Significant gold-arsenic soil anomalies trend north, northeast and north-northwest strike out individually over 4 kms in length. Drill targets were selected where these surface features coincide with strong resistivity anomalies identified through CSAMT surveying, interpreted to represent major quartz systems.
Simon Henderson, Chief Operation Officer of RUA GOLD, commented: "Receiving approval to commence drilling at Glamorgan is a significant milestone for RUA GOLD. Our exploration team has systematically developed a compelling geological model and identified three priority drill targets supported by coincident geophysical, geochemical and geological indicators.
With drilling now set to test this highly prospective epithermal system for the first time, we have an exceptional opportunity to unlock a potentially significant new gold discovery in one of New Zealand's premier gold districts."
Exploration Work Completed to Date
Exploration activities completed to date include extensive geological mapping, geochemical sampling, TerraSpec clay-mineral analysis, and ultra-detailed magnetic and resistivity surveys. This work has focused on three target areas overlapping with major alteration cells. The alteration cells are directly associated with surface quartz veins, platy quartz after calcite, quartz-adularia mineralization and sinter-like textures, which are characteristic of the upper levels of an epithermal gold-silver system.
The principal components of the surface exploration program completed include:
Geological mappingVein morphologies and orientations mapped across the target areas, paralleling regional trendsSoil and rock-chip samplingSoil geochemistry highlights high-grade gold and arsenic enveloping outcropping quartz veins paralleling north-northeast. Rock-chip sampling revealed anomalous Au (>40 g/t) and Ag (>200 g/t) across wide areas of the permit.TerraSpec spectrometrySi-clay mineralization identified through TerraSpec analysis confirms silica-flooding and chalcedony classic features of the upper levels of epithermal systems, overlying gold-in-soil anomalies.UAV magnetic surveyingApproximately 590 line kilometres ("line-km") were flown, identifying two areas of strong alteration, expressed as demagnetization of the host rocks, that are interpreted to represent the footprint of a major epithermal system.Ground resistivity surveyTwo separate CSAMT campaigns totalling >11 km in length identified several deep-rooted resistive features associated with high-grade gold at surface and surrounded by strongly anomalous gold-in-soil geochemistry.
Figure 1: Location map with of Glamorgan with initial drill targets.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/307888_79e5edc124b218a5_022full.jpg
Glamorgan Exploration Overview
Following the grant of a drone concession in May 2024 and approval for minimum-impact exploration in July 2024, RUA GOLD commenced exploration with an ultra-detailed UAV magnetic survey. The survey comprised approximately 590 line-km flown using a Geometrics MagArrow magnetometer suspended beneath a DJI M300 drone.
Interpretation of the magnetic data has helped define key lithological and alteration features within the Whitianga Group rhyolites and Coromandel Group andesites. The data also indicate major structural features aligned with regional mineralization trends.
Soil sampling commenced in July 2024 along cross-lines spaced 250 metres apart, with samples collected at 20-metre intervals. Infill sampling in target areas and further extensions of the grid have brought the total number of soil samples to 4,137 (Figure 2). All samples dried and sieved at RUA GOLD's Waihi facility, then transported to Reefton for portable X-ray fluorescence ("pXRF") analysis. Each sample was also scanned using a TerraSpec 4 Hi-Res mineral analyzer to characterize the clay-alteration system and identify the upper levels of the epithermal system. A 50-gram subsample was then sent to ALS in Brisbane for low-level gold analysis.
Collection of Controlled-Source Audio-Magnetotellurics (CSAMT) data across two campaigns in Q1 2025 and Q1 2026 covered large parts of the Glamorgan permit area not covered by previously collected Induced Polarisation (IP) data. This has led to the identification of several deep resistors across the target areas with narrow spacing between CSAMT lines enabling correlation of resistors across multiple profiles.
Combination of anomalous soil and rock chip results, geological mapping, and anomalies identified in the UAV magnetics and CSAMT results evidencing large alteration cells was used to identify three main targets for the initial drill program: Sutcliff, Wires Ridge, and Tairua (Figure 2).
Figure 2: Gold and Arsenic anomalies and initial drill targets within the RUA GOLD Glamorgan permit.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/307888_79e5edc124b218a5_033full.jpg
The Sutcliff anomaly trends northeast for at least 1.3 km and shows high gold, arsenic, and silver in rock chips and soils. Strong alteration is observed at the surface from geological mapping and UAV magnetics and is underlain by a strong resistor visible in CSAMT data, interpreted to represent the footprint of a major epithermal system. It remains open to the southwest. Its orientation is consistent with that of the WKP deposit, located approximately 3 km southeast of the Glamorgan permit.
The Wires Ridge anomaly trends north-northeast for at least 2.1 km, evidenced by anomalous gold and arsenic geochemistry and strong resistors at depth. This target remains open to the north and south. Its southern extent coincides with the historic Wentworth and Auckland mine workings.
The Tairua anomaly trends northeast over at least 1.6 km and is evident in numerous quartz veins with anomalous gold and silver outcropping across a width of >600m. Quartz veins commonly show extensive banding and width exceeding 50 cm. The broad alteration zone is interpreted as stockwork-like veining. The Tairua anomaly remains open to the south.
Figure 3: CSAMT and IP resistivity results as point cloud data. Red indicates areas of high resistivity.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10755/307888_79e5edc124b218a5_034full.jpg
An initial drill program of approximately 9,000m has been planned across the three targets at Sutcliff, Wires Ridge, and Tairua (Figure 3) with drilling expected to commence in Q4 2026.
ABOUT RUA GOLD
RUA GOLD is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of RUA GOLD's two highly prospective high-grade gold projects.
The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand's South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t4.
The Company's Glamorgan Project solidifies RUA GOLD's position as a leading high-grade gold explorer on New Zealand's North Island. This highly prospective project is located within the North Islands' Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver5. Glamorgan is adjacent to OceanaGold Corporation's biggest gold mining project, Wharekirauponga.
For further information, please refer to the Company's disclosure record on SEDAR+ at www.sedarplus.ca.
TECHNICAL INFORMATION
Simon Henderson CP, AUSIMM, a qualified person under National Instrument 43-101 Standards of Disclosure for Mineral Projects and Chief Operating Officer and a director of RUA GOLD, has reviewed and approved the technical disclosure contained herein. Mr. Henderson has participated in the geophysical, sampling, and mapping programs to verify that they have been conducted in accordance with the standard operating procedures. Mr. Henderson has verified the data disclosed by running checks on the location, analytical, and test data underlying the information in the technical disclosure herein.
RUA GOLD Contact
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and specifically include statements regarding, without limitation: the commencement of the Company's drilling program at the Glamorgan Project; the vegetation and invertebrate checks will clear; and the commencement of the construction of protective fencing, the exploration camps and drill pads . Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: general business, economic, competitive, political and social uncertainties; risks related to the effects of the Russia-Ukraine war and the war in the Middle East; risks related to climate change; operational risks in exploration, delays or changes in plans with respect to exploration projects or capital expenditures; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; changes in labour costs and other costs and expenses or equipment or processes to operate as anticipated, accidents, labour disputes and other risks of the mining industry, including but not limited to environmental hazards, flooding or unfavorable operating conditions and losses, insurrection or war, delays in obtaining governmental approvals or financing, and commodity prices. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements and reference should also be made to the Company's short form base shelf prospectus dated July 11, 2024, and the documents incorporated by reference therein, filed under its SEDAR+ profile at www.sedarplus.ca for a description of additional risk factors.
Forward-looking statements are based on the assumptions, beliefs, estimates and opinions of the Company's management on the date the statements are made, which include but are not limited to: to the accuracy of the Company's current mineral resource estimates; that there will be no material adverse change affecting the Company or its properties; the duration and effect of global and local inflation; geo-political uncertainties on the Company's workforce, business, operations and financial condition; the expected trends in mineral prices, inflation and currency exchange rates; that all required approvals and permits will be obtained for the Company's business and operations on acceptable terms including for underground mining at Auld Creek; that there will be no significant disruptions affecting the Company's operations and such other assumptions herein. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
1 See OceanaGold's news release dated February 18, 2026.
2 See OceanaGold's news release dated February 18, 2026.
3 See OceanaGold's "NI 43-101 Technical Report Waihi Operations and Wharekirauponga Underground Pre-feasibility Study, New Zealand", dated December 11, 2024.
4 Technical Report on the Reefton Project, New Zealand, with an effective date of February 27, 2026 available under the Company's SEDAR+ profile at www.sedarplus.ca.
5 Christie, A., Simpson, M., Barker, R., and Braithwaite, R. 2019. Exploration for epithermal Au-Ag deposits in New Zealand: history and strategy. New Zealand Journal of Geology and Geophysics, 62:1, 414-441. NI 43-101 Technical Report, Waihi District Pre-feasibility Study, New Zealand. OceanaGold Corporation, Report Date: December 11, 2024.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307888
Source: Rua Gold Inc.
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