- Gold is challenging the October highs near 1,510 resistance.
- The FOMC Minutes are scheduled at 18:00 GMT; the news can lead to some volatility.
Gold four-hour chart
The yellow metal is trading below the 200-day simple moving average (SMA) and the 1,510 resistance. This level might be a tough nut to crack as it held throughout October. A break below the psychological level of $1,500 a troy once can lead to a decline towards 1,490 swing low. A break below this level can expose the 1,475 and 1,460 support levels if the sellers gather enough steam. On the flip side, a daily close above 1,510 can lead to 1,520 and 1,535 resistances on the way up. The FOMC Minutes are scheduled at 18:00 GMT; the news can lead to some volatility.
Additional key levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
Gold moves to record highs past $3,340
Gold now gathers extra steam and advances beyond the $3,340 mark per troy ounce on Wednesday, hitting all-time highs amid ongoing worries over escalating US-China trade tensions, a weaker US Dollar and lack of news from Powell's speech.
AUD/USD: Upside now refocuses the 200-day SMA
AUD/USD advanced for the sixth consecutive daily advance, picking up extra upside impulse on the back of the continuation of the sell-off in the US Dollar. Next on tap for the Aussie now emerges the yearly peak above 0.6400 prior to the key 200-day SMA.
EUR/USD looks to retest its 2025 highs
EUR/USD reversed two consecutive daily retracements and revisited the key 1.1400 neighbourhood as the selling bias in the Greenback gathered extra pace, always against the backdrop of rising uncertainty surrounding US yields. Chief Powell, in the meantime, delivered a neutral message in his discussion over the economic outlook.
Bitcoin held steady as US reveals China faces up to 245% tariffs
Bitcoin (BTC) witnessed little pressure on Wednesday despite the Chinese government selling off parts of its confiscated cryptocurrency holdings.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.