Precious metals

EURUSD, Gold Forecast: As Trump tariff risks involving Canada, Mexico, China, and the EU return to the headlines, the US Dollar Index (DXY) surged on inflation momentum, while global markets plunged. However, safe-haven assets may remain resilient.

Silver bulls have finally cracked stubborn resistance, but can they maintain momentum? With gold hitting record highs, is this the beginning of a broader breakout for the precious metals complex?

USDJPY, Gold Forecast: The USDJPY pair braces for heightened volatility between Wednesday’s FOMC meeting and Friday’s Tokyo CPI release, while gold maintains its haven drive near record highs amid persistent inflation and trade war risks.

EURUSD, Gold Forecast: EURUSD sustains its rebound above parity, while gold tests the $2730 resistance. Trump's return to the markets challenges the sustainability of the bullish rebounds.

Inflation hedges shine despite a strong dollar and elevated yields, but with key resistance levels in play, the Trump tariff threat looms as a make-or-break moment.

Gold, Silver Forecast: Following the triangle formation in gold prices between December 2024 and January 2025, gold has taken a bullish turn, breaking above the $2,700 mark and eyeing its all-time high once again.

Bond yields are unlikely to fall back significantly in the near-term, even if we see a small miss in US inflation data today. This should keep the upside limited for gold. Therefore, we are still quite cautious when it comes to near-term gold outlook, even if we ultimately expect to see gold rising to $3,000 later this year.

GBPUSD, Gold Forecast: The British pound is struggling against a strong U.S. dollar, holding onto key 2024 support levels, while gold is forming a triangle pattern, leaving markets on edge for a decisive breakout. Non-Farm Payrolls (NFP) on Friday add further volatility risks.

Gold has found some relief from a weaker US dollar and lower yields in the last couple of days, but it could come under renewed pressure as the greenback’s weakness could be temporary, while easing Middle East tension owing to the ceasefire agreement point to lower haven demand.

Bitcoin, Gold Analysis: Ceasefire agreements are transitioning from speculation to reality ahead of the holiday season and Trump’s upcoming term. Gold’s rally has stalled below the $2,700 mark as haven demand wanes, while Bitcoin has retreated slightly below the psychological $100,000 level.

Gold analysis: After the big sell-off on Monday, I will try to examine what this means for gold in terms of direction in the near-term outlook, purely from a technical point of view.

Already lower on the day thanks to the risk on rally as traders reacted positively to Donald Trump’s choice of Scott Bessent for Treasury Secretary, gold took another dive lower in the last hour.

EURUSD, Gold Analysis: In the FX markets, the dollar's pullback from the 107 mark continues to support positive rebounds across currencies. Meanwhile, in the precious metals market, geopolitical tensions and the dollar's cooling momentum have enabled gold to recover from steep post-election drops.

USDJPY, Silver Forecast: The US Dollar’s rally has pushed the yen to levels increasing Bank of Japan intervention risks and pressured silver to retest a critical yearly trendline, raising caution over potential further upward movements in the dollar.

For now, the ongoing hawkish repricing of US rates after Trump's emphatic victory is keeping US dollar and yields underpinned, and buck-denominated gold undermined.

Gold has started the week with a 2% pullback. The selling started right as trading opened in Asian markets, before extending those losses during the first half of European session. The metal is now on its second consecutive weekly decline.

Gold Outlook: As market certainty grows post-U.S. elections and the dollar rallies in response to potential inflation risks, gold has faced a sharp pullback. The yellow metal, previously in overbought territory on its monthly timeframe, has plunged nearly 100 points, recharging momentum ahead of tonight's FOMC meeting.