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Gold tests critical support as a potential bullish reversal competes with bearish consolidation patterns, leaving the next breakout increasingly important for direction.
Forex
Gold market sellers took control ahead of the Fed despite favorable dollar and yield conditions. Gold analysis shows rate repricing has damaged the bullish case.
Silver: Forecast cut but deficit supports upside – Commerzbank
The loudest silver story in July was a shooting war, but the more durable threat was a peaceful election in Peru, a country that digs up close to one silver ounce in six.
GBP/JPY had a good run from late-June to mid-July and entered a range pattern from there. Does a clear break below 216 signal a bearish tide?
It's one of those weeks where the range of possible outcomes is far and wide. As we go into tomorrow's Fed meeting there's a peculiar degree of indecision, as there's an approximate 30% probability of rates being hiked tomorrow.
Silver's Peru problem: A local risk the global deficit can't absorb
Precious metals are losing ground as traders worry about hawkish Fed.
USD/CAD has recovered from this month's low after a sharp 1.7% pullback from the yearly high, but the advance is now beginning to show signs of exhaustion beneath a major confluence of resistance. Multiple technical studies converge just overhead, making this one of the most important inflection zones since the correction began.
Once again, gold is showing signs of short-term weakness. Over the last 4 trading sessions, XAU/USD has accumulated a decline.
XAU/USD Price forecast: Gold bounces on poor US data
Pound Sterling Price News and Forecast: GBP/USD has nothing to say in front of two central banks
Gold reached a 2026 peak price of about $5,590 in January, but it has been on a downward path ever since.
Falling oil markets put additional pressure on the American currency.
Silver loses ground as hopes for US-Iran deal improve risk appetite
Summary:USD/CAD traded near 1.4100 on Tuesday as traders awaited the Federal Reserve's policy decision. Falling crude oil prices continued to limit gains for the Canadian dollar despite a softer US dollar.
Gold: Hawkish Fed delays Gold recovery path – Commerzbank
Gold Price Forecast: XAU/USD sits out the panic it was built for
Swiss Franc: Weak performance tied to carry and Gold – TD Securities
