XAU/USD

Gold just posted its highest monthly close on record, and now trades less than $40 from its record high set in May. With seasonality on its side, I suspect another crack at the record high could be in order. Although it does run the risk of a shakeout around the milestone level.

It seems the dollar correction is finally underway, with the US dollar index suffering its worst single day in one year. And it shows the potential for further losses, even if it has found support for now. Gold also shows the potential to have another crack at $2000.

Markets started the week on edge as geopolitical tensions have increased, leading to a bounce in both gold and oil prices.

Gold prices suffered their worst day in 8 weeks on Tuesday with spot prices falling below the 200-day EMA and closing on the key $1900 level. But with gold lower against a basket of currencies, it shows gold is weaker and it's not just a case of a stronger USD or yields.

The focus shifts to the Fed next week, with the big question as what the bank sees on the horizon for the rest of the year. US data has remained hot but there are minimal expectations for any actual moves next week.

Gold prices are testing a massive spot of support above the 1900 handle, even as the US Dollar jumps to fresh highs. Can gold bulls turn a support test into a swing?

The US Dollar is holding near resistance ahead of high-impact data, with tomorrow’s CPI release followed by the Thursday ECB rate decision, and then next week’s FOMC meeting.

Despite competing with the strength of the dollar, gold has been trading higher against all other major currencies since its low in August. This could suggest that gold is acting as a safe haven, even if it is not immediately obvious from the XAU/USD chart.

While the short-term gold outlook remains murky, there is little doubt in my mind that the longer-term gold forecast is positive...

Wall Street posted a strong rally on Friday on reports that the debt ceiling is on track to be raised, yet gold managed to hold above key support levels and sits at a potential inflection point.

Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here

Gold plummeted more than 6% off the highs with a break of the May range threatening further losses. The levels that matter on the XAU/USD short-term technical charts.

Gold has continued to hit the headlines as it teases investors with a record high. But that doesn’t mean gains will be plain sailing from here, even if we remain bullish this year overall.

My gold outlook remains positive because the Fed is likely to start cutting rates by as early as September.

Gold prices surged to record highs on the heels of the FOMC- previous attempts to mount this ceiling have not been fruitful. The levels that matter XAU/USD weekly chart.

Tumbling bank stocks and a sharp slide in crude oil prices are highlighting financial stability and recession risks, underscoring our bullish silver outlook.

Gold prices rebounded off monthly-open support this week but remains vulnerable to a larger bull market correction. The levels that matter on the XAU/USD technical charts.