Gold Price Forecast: Trades near two-month low ahead of US PCE Inflation data
Gold and silver showed limited conviction as the Middle East truce held firm. Gold broke decisively under $4,500 with bearish channel structure while silver traded at $73.42.
Gold fell to 4,387 USD per troy ounce on Thursday, marking its third consecutive session of losses. The market remains cautious amid persistent uncertainty surrounding negotiations between the US and Iran, which continue to fuel concerns over inflation and the prospect of prolonged high interest rates.
Both gold and silver are getting hosed in Asia, coinciding with fresh fighting between US and Iranian forces in the Gulf. What I find interesting is that crypto is getting smoked too, even though US yields are well off levels seen earlier this week while equities continue to levitate within spitting distance of record highs.
This is a follow-up analysis on the prior report, “Chart alert: Gold (XAU/USD) rally faces roadblock at 20-day and 50-day moving averages”, published on 7 May 2026.
Gold (XAU/USD) remains under pressure after breaking below its key 200-day moving average for the first time since March 2026. Rising US Treasury real yields and persistent bearish momentum continue to weigh on the precious metal as investors rotate toward yield-bearing assets.
Saudi Arabia Gold price today: Gold falls, according to FXStreet data
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data