Gold Price Forecast: XAU/USD is gathering pace for the next push higher toward $2,000

FXStreet Insights Team FXStreet

Gold price is building on Wednesday’s upsurge this Thursday. XAU/USD is set to retake $2,000, FXStreet’s Dhwani Mehta reports.

Gold price is forming a bull pennant on the daily chart

“Gold price is charting a potential bull pennant on the daily chart. Gold buyers need a daily candle stick close above the falling trendline resistance at $1,975 to validate the bullish continuation pattern. An upside break will call for a test of Tuesday’s high at $1,985, above which the $2,000 round figure will get challenged.”

“On the other side, if Gold bulls fail to sustain at higher levels, any retracements could prod the intraday low at $1,965, below which the static support at $1,960 will be threatened. Deeper declines will expose the $1,950 demand area, opening floors for a test of the falling trendline support at $1,926.”

See – Gold Price Forecast: XAU/USD on course to retest its $2,070/2075 record highs – Credit Suisse

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD retreats below 1.1800 as EU-US trade relations sour

EUR/USD loses its traction and retreats below 1.1800 following the earlier climb. The data from Germany highlighted a modest improvement in business sentiment in February but failed to help the Euro as investors assess the US-EU trade relations following Trump's global tariff hike announcement.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold climbs above $5,100 on broad USD weakness

Gold sticks to its bullish bias near the monthly above $5,100 on Monday. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.