Balogun Opeyemi

Gold trades under pressure below $4,100 as hawkish Fed comments strengthen the USD and limit rate-cut expectations, while post-shutdown economic uncertainty offers only modest support, keeping the metal bearish beneath the 72-EMA with $4,000 as key support.

Gold (XAU/USD) remains resilient above the $4,200 level, supported by dovish Fed expectations, persistent geopolitical risks, and a weaker U.S. dollar. With markets pricing in two additional Fed rate cuts this year, investors continue to favor gold as a safe-haven asset amid rising uncertainty.

The Euro rebounded above 1.1600 on Friday after four straight sessions of losses, supported by easing political tension in France following President Macron’s reappointment of Sébastien Lecornu as Prime Minister and a weaker U.S. dollar. The greenback declined amid renewed U.S.-China trade tensions and softer consumer sentiment data, reinforcing expectations of Fed rate cuts.

Gold (XAU/USD) surged to an all-time high of $3,600 after disappointing US Nonfarm Payrolls reinforced expectations of Fed rate cuts. Falling Treasury yields and a weaker dollar supported the rally, while traders now shift focus to this week’s CPI data.

Gold (XAU/USD) rebounded last week, supported by steady US PCE data, dollar softness, and safe-haven demand. The metal trades near $3,447, with strong monthly gains intact. While fundamentals point to dip-buying interest, the key focus remains on whether price can hold $3,400 support or break $3,452 resistance to extend toward $3,500.

EUR/USD advanced nearly 1% to 1.1718 after Fed Chair Powell signaled caution at Jackson Hole, reinforcing expectations of a rate cut. Markets now await key inflation and labor data before September’s policy meeting. Technically, a break above 1.1742 could open the path to 1.1800 and 1.1829, while failure to sustain momentum risks a pullback toward 1.1650 and possibly 1.1600.

Gold prices climbed to $3,371 after Fed Chair Powell highlighted rising downside risks to the labor market, reinforcing expectations of a dovish Fed stance. Despite intraday volatility, XAU/USD held firm as markets anticipate key U.S. data releases this week, including PCE and GDP.

The DXY tracks the relative strength of the US dollar versus a weighted currency basket including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. Although the euro comprises nearly 58% of the index, the DXY reflects broad USD strength or weakness across global markets, not just against a single currency.

House Republicans just rewired Donald Trump’s One Big, Beautiful bill to keep it alive in the Senate, ripping out several key provisions that had been flagged as rule violations.