Gold

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.

Some bullish fingers have likely been burned at this week's open, given the relatively bullish positioning on S&P 500 futures alongside short bets against the VIX rising to a 6-month high last week.

Gold bulls are back in 2025 and January was a green monthly bar following two months of pullback to finish 2024.

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?

The price of gold trades to a fresh record high ($2799) following the limited reaction to the Federal Reserve interest rate decision.

Gold bulls have been back at work so far in 2025 trade but to this point, they haven’t been able to push for a test of the 2800 handle in spot XAU/USD.

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.

Since the beginning of 2025, bullish movements have driven gold to increase by more than 5% of its total value, once again approaching its historical high near the $2,780 per troy ounce level.

Gold buyers may now be turning their eyes upward for a retest of the record highs near $2790 in the coming days, if not a breakout to $2800+.

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.

The commitment of traders (COT) report shows how large speculators are positioned across futures markets on the CME exchange.

The price of gold snaps a three-day rally to hold below the December high ($2726) ahead of the inauguration of US President Donald Trump.

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.

Democratic presidential election wins have led to an average gold price increase of +1.5%, while Republican wins brought a -5.5% decrease on average between election day and inauguration day

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.

Last week I warned that gold’s gains appeared dubious, and that they could sucker-punch bulls. And it seems they did. And while I suspect another leg or two lower, we could find its downside limited when we weigh up the supporting factors for gold.