

others
Gold price regains positive traction, remains below two-week high on reviving Fed rate hike bets – Crypto News
- Gold attracts fresh buyers on Friday and stalls the overnight pullback from over a two-week high.
- Retreating US bond yields keeps the USD bulls on the defensive and lends support to the metal.
- The prospects for further policy tightening by the Fed could act as a headwind for the XAU/USD.
Gold price (XAU/USD) witnessed an intraday turnaround from the $1,885 region, or over a two-week high and settled near the lower end of its daily range on Thursday. Consumer prices in the United States (US) rose more than expected in September and lifted expectations that the Federal Reserve (Fed) will keep interest rates higher for longer. This led to the sharp overnight rise in the US Treasury bond yields and triggered a massive US Dollar (USD) short-covering rally, which, in turn, was seen as a key factor exerting pressure on the precious metal.
The downfall, however, lacks follow-through, with a modest downtick in the US Treasury bond yields and a softer USD assisting the Gold price to attract some dip-buying near the $1,868-1867 region during the Asian session on Friday. The recent dovish remarks by several Fed officials suggested that the US central bank is nearing the end of its rate-hiking cycle. This puts a lid on the US bond yields, removing some of the driving force behind a strong Greenback. Apart from this, geopolitical issues drive some haven flows to the non-yielding yellow metal.
Daily Digest Market Movers: Gold price is seen drawing support from a combination of factors
- Gold price stalls the previous day’s post-US CPI retracement slide from over a two-week high amid retreating US Treasury bond yields and a softer US Dollar.
- The recent comments by several Federal Reserve officials raise the uncertainty over the US central bank’s near-term monetary policy outlook.
- The latest US consumer inflation figures released on Thursday, however, kept the door open for at least one more 25 basis point (bps) lift-off by the end of this year.
- The headline US CPI rose 0.4% in September and the yearly rate held steady at 3.7% as compared to market expectations for a tick lower to 3.6%.
- The Core CPI, which excludes volatile food and energy prices, matched estimates and eased to the 4.1% YoY rate in September, hitting a 24-month low.
- The inflation is still above the Fed’s 2% target and supports prospects for further policy tightening, warranting some caution for the XAU/USD bulls.
- Boston Fed President Susan Collins said that the central bank might have to raise rates again to combat inflation as the data underscored uneven progress toward restoring price stability.
- Military clashes between Israel and the Palestinian Islamist group, Hamas, might continue to underpin the safe-haven bullion and help limit the downside.
- Traders now look to Philadelphia Fed President Patrick Harker’s speech and the Preliminary Michigan Consumer Sentiment Index for a fresh impetus.
- The precious metal remains on track to register strong weekly gains of more than 2%, the most since mid-March, snap a two-week losing streak.
Technical Analysis: Gold price remains well within the striking distance of over a two-week high
From a technical perspective, the emergence of fresh buying ahead of the $1,865 support zone favours bullish traders. That said, technical indicators on the daily chart are yet to confirm a positive bias. This, in turn, warrants some caution before positioning for any further appreciating move. Hence, any subsequent strength is more likely to confront resistance near the overnight swing high, around the $1,885 region. This is closely followed by the $1,900 mark, which if cleared will set the stage for additional gains.
On the flip side, the $1,868-1,865 region might continue to protect the immediate downside ahead of the $1,853-1,850 zone. A convincing break below could drag the Gold price to the $1,835-1,833 region, representing a multi-day-old trading range resistance breakpoint. Some follow-through selling might turn the XAU/USD vulnerable to slide back towards retesting the multi-month low, around the $1,810 zone touched last week.
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 New Zealand Dollar.
USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
USD | -0.08% | -0.17% | 0.00% | -0.18% | -0.01% | 0.05% | -0.08% | |
EUR | 0.08% | -0.10% | 0.06% | -0.10% | 0.05% | 0.13% | -0.01% | |
GBP | 0.16% | 0.10% | 0.16% | 0.01% | 0.16% | 0.22% | 0.09% | |
CAD | 0.01% | -0.04% | -0.16% | -0.14% | -0.01% | 0.07% | -0.06% | |
AUD | 0.18% | 0.10% | 0.00% | 0.16% | 0.15% | 0.21% | 0.08% | |
JPY | 0.00% | -0.06% | -0.18% | 0.00% | -0.16% | 0.05% | -0.06% | |
NZD | -0.07% | -0.11% | -0.22% | -0.06% | -0.23% | -0.06% | -0.12% | |
CHF | 0.07% | 0.01% | -0.09% | 0.07% | -0.08% | 0.06% | 0.13% |
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 Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
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.
-
others1 week ago
Breaking: USDC Issuer Circle To Launch Arc Blockchain for Stablecoin Payments – Crypto News
-
Technology1 week ago
Sam Altman drops major GPT 5 update, unveils Auto, Fast and Thinking as response modes to choose; check rate limits here – Crypto News
-
Technology7 days ago
99% Approval Odds? How Close Are We to Spot Solana ETF Launch in US? – Crypto News
-
Technology1 week ago
Paxos joins Ripple and Circle to Apply for a National Banking License – Crypto News
-
Cryptocurrency1 week ago
Metaplanet Adds 518 BTC, Now Holds $1.85 Billion Worth of Bitcoin – Crypto News
-
Blockchain1 week ago
как Майкл Сейлор променял золото на биткоин – Crypto News
-
Blockchain1 week ago
How Blockchain Network Layers Apply Across CFO Tech Stacks – Crypto News
-
Business7 days ago
Coinbase Completes $2.9B Deal To Acquire Deribit Amid ‘Everything Exchange’ Push – Crypto News
-
Cryptocurrency5 days ago
How to Invest in Penny Stocks: Strategies That Actually Work – Crypto News
-
Cryptocurrency1 week ago
Trump Mulls Lawsuit Against Powell Amid Fed Rate-Cut Push – Crypto News
-
Technology1 week ago
Generative AI set to improve banking operations in India by 46%: RBI Report – Crypto News
-
Cryptocurrency1 week ago
Trump’s Thumzup Media Secures $50M and Coinbase Partnership to Grow XRP Treasury – Crypto News
-
Business7 days ago
Breaking: U.S. Bitcoin Reserves Worth Up To $20 Billion, Scott Bessent Confirms – Crypto News
-
Business6 days ago
Pi Network Set for RWA Tokenization as Stellar Partners with ERC-3643 Association – Crypto News
-
Cryptocurrency6 days ago
Solana’s $200 Comeback Is No Mere ‘Speculative Pop’ – Crypto News
-
Business5 days ago
Gemini Details IPO Plans Amid Increasing Losses and Ripple Loan Agreement – Crypto News
-
Technology1 week ago
Sam Altman details steps to improve ChatGPT as users threaten to cancel OpenAI subscriptions – Crypto News
-
Technology1 week ago
iPhone 17 Pro’s new camera design could also boost cellular performance, lower latency: Here’s what we know – Crypto News
-
De-fi1 week ago
Moonbirds Cross 3 ETH on Token Speculation – Crypto News
-
Technology1 week ago
Generative AI set to improve banking operations in India by 46%: RBI Report – Crypto News
-
others7 days ago
Binance Coin Price Eyes $1K on BNB Treasury Boom, ETF Approval Hopes – Crypto News
-
others6 days ago
How Bitcoin Made Satoshi Nakamoto Richer Than Bill Gates: Net Worth Revealed – Crypto News
-
Cryptocurrency6 days ago
Altcoins soar, Bitcoin stalls as Fed rate cut speculation hits fever pitch – Crypto News
-
De-fi4 days ago
SharpLink Raises $400 Million as Ethereum Treasury Swells to $3.3 Billion – Crypto News
-
De-fi4 days ago
SharpLink Raises $400 Million as Ethereum Treasury Swells to $3.3 Billion – Crypto News
-
Business1 week ago
Uniswap Proposes DUNI Legal Entity in Wyoming to Boost DAO Governance – Crypto News
-
Technology1 week ago
A New RWA Project Launches Platform to Challenge VC Dominance in Crypto Startup Funding – Crypto News
-
Blockchain1 week ago
Stripe Developing Blockchain in Tandem With VC Firm Paradigm – Crypto News
-
others1 week ago
Breaking: Bitcoin Price Hits New All-Time High As Traders Price In Rate Cut – Crypto News
-
Business1 week ago
Bullish IPO: BLSH Stock Surges Following Crypto Exchange’s Debut On NYSE – Crypto News
-
Business6 days ago
Crypto Liquidations Close to $1B as Scott Bessent Revises US Treasury Bitcoin Stance – Crypto News
-
Blockchain6 days ago
How to Pay for Flights with Crypto in the UAE: A Complete Step-by-Step Guide – Crypto News
-
others6 days ago
Breaking: Federal Reserve to End Program That Targeted Crypto Banking – Crypto News
-
Blockchain6 days ago
Ronin Network is Coming Back Home to Ethereum in 2026 – Crypto News
-
Metaverse5 days ago
‘A 25-year-old in Mumbai…’: ChatGPT mastermind Sam Altman bets big on India, poised to be OpenAI’s top market – Crypto News
-
Technology5 days ago
iPhone 17 Air launching next month: Price, display, processor, battery and everything expected – Crypto News
-
others5 days ago
Trump and Putin joint press conference ends with no deal – Crypto News
-
Blockchain4 days ago
Novogratz Worries About Economy If Bitcoin Reaches $1M In 2026 – Crypto News
-
Blockchain1 week ago
Bitcoin Miner MARA Holdings Buys 64% Stake in AI And HPC Firm Exaion – Crypto News
-
Cryptocurrency1 week ago
Did crypto just have its LLC moment? – Crypto News
-
Business1 week ago
Japan’s Metaplanet Expands Bitcoin Treasury With 518 BTC Purchase, Stock Reacts – Crypto News
-
others1 week ago
Canary Capital CEO Says XRP ETF Will Surpass ETH ETFs as SEC Confirms Lawsuit End – Crypto News
-
Metaverse1 week ago
How AI could create the first one-person unicorn – Crypto News
-
De-fi1 week ago
US Subsidiary of Early Chinese Game Dev Snail Digital Explores Stablecoin – Crypto News
-
others1 week ago
After Marco, Another Kraken Lawyer Michael O’Connor Departs From the Exchange – Crypto News
-
Technology1 week ago
POCO M7 Plus 5G vs Vivo T4x 5G: Price, camera, battery, processor, display and more compared – Crypto News
-
others1 week ago
Solana Price Targets $300 as CMB Fund Tokenization Sparks Cup-and-Handle Breakout – Crypto News
-
De-fi1 week ago
Circle’s Arc Layer 1 Re-ignites the Open Versus Permissioned Chain Debate – Crypto News
-
Cryptocurrency7 days ago
Why XRP price has failed to breakout despite SEC settlement – Crypto News
-
Technology7 days ago
AI just changed how we travel! This new Google tool could save you thousands on flights: Here’s how – Crypto News