XAU USD News & Analysis Today

  • XAU/USD is holding above support at 3530.0, refreshing its yearly peak at 3500.0 after a U.S. appeals court ruled most import tariffs introduced by the White House unlawful. Although the decision can be appealed until October 14, it highlights rising public discontent with President Donald Trump’s policies, prompting investors to turn to gold as a safe-haven asset.

  • The euro forex weakens against the U.S. dollar, testing 1.1630 on downside momentum. Traders await eurozone PMI (10:00 GMT+2) and PPI (11:00 GMT+2), with forecasts pointing to a slowdown. Recent inflation data surprised to the upside at 2.3% y/y. The ECB has nearly completed its easing cycle, with markets pricing only one more 25 bp cut by year-end. Retail sales due Thursday are expected weaker. Meanwhile, USD strength is capped by Fed cut expectations, with a 92% chance of a 25 bp move at the September 17 FOMC.

  • In the forex market, the EUR/USD pair is rising in the Asian session, extending last week’s bullish momentum as the U.S. dollar comes under pressure from expectations of lower borrowing costs by the Federal Reserve. According to CME Group’s FedWatch Tool, there is an 80.0% probability of a 25 bp cut at the September 17 meeting. The Fed could cut two more times by the end of 2025 and by a total of 125 bp by September 2026.

  • XAU/USD continues its upward movement during the morning session, extending the strong bullish trend established last week. The instrument is testing the 3475.00 level to the upside, updating local highs from April 22.

  • The XAU/USD pair rose to 3395.00 and is moving toward the 3430.00 target in anticipation of a Federal Reserve rate cut at the September 17 meeting. Last week, Chairman Jerome Powell stated that the baseline forecast for the economy and a shifting balance of risks may require monetary policy adjustments, while labor market stability allows policymakers to act cautiously. Investors interpreted his comments as negative for the dollar and priced in an 87.0% probability of a 25-basis-point rate cut at the upcoming meeting.

  • XAU/USD quotes remain slightly above the 3350.0 support level, moving away from the prospect of updating the yearly high at 3500.0 after U.S. President Donald Trump announced that the recently introduced 39.0% tariffs on imports of gold bars over 100.0 ounces, scheduled to take effect on August 25 and targeting Switzerland’s largest export sector, would not be applied. Analysts had predicted that such measures could drive global gold prices higher and redirect trade flows to Asia. Bloomberg reported that tariffs above the expected 15.0% could have pushed gold prices into the 3,300–3,600 range per ounce within three months.

  • XAU/USD is trading within the 3432.00–3263.00 range, awaiting new catalysts. Following the U.S.–Russia presidential summit in Anchorage, Alaska, where Vladimir Putin and Donald Trump discussed bilateral relations and potential peace talks over the Russia–Ukraine conflict, markets are bracing for a possible trilateral meeting with Ukraine. Any progress toward a ceasefire could sharply reduce demand for safe-haven assets and push gold toward 3263.00. Conversely, escalation would likely boost gold prices.