From Investing.com: 2025-05-22 04:21:00

Gold prices rose by 0.77% as concerns over the US fiscal outlook grew. Moody’s downgraded the US credit outlook due to escalating debt levels and macroeconomic uncertainty. Geopolitical instability and increased gold imports from China also boosted gold’s safe-haven appeal. XAU/USD continued to rise, with key support at $3,260 and resistance at $3,340.

The euro gained 0.41% against the US dollar amid worries about President Trump’s fiscal policy. Political divisions within the Republican Party and a weak Treasury bond auction led to a broader aversion to US assets. EUR/USD remained flat, with upcoming US jobless claims and PMI reports affecting the pair’s movement.

The Japanese yen strengthened, reaching nearly 143.000 against the USD. Concerns about Trump’s proposed tax cuts increasing national debt drove demand for safe-haven currencies. Mixed economic indicators in Japan and falling USD/JPY for the eighth consecutive day highlighted market uncertainty. Traders should watch for US S&P Manufacturing and Services PMI report for potential volatility.



Read more at Investing.com: Gold Prices Rise Amid Cautious Fed and Middle East Turmoil