From Investing.com: 2025-05-06 04:43:00

Gold prices surged by 2.89% as Trump threatens new tariffs, pushing investors towards safe-haven assets. Traders eagerly await signals from the Fed regarding interest rates, with expectations of no change in the current range of 4.25-4.5%. Analysts predict gold prices will remain elevated in the near-term, potentially reaching $3,000. XAU/USD rose by 0.8%, with key levels to watch at $3,400 resistance and $3,300 support.

The euro closed above 1.13000 on Monday, with analysts seeing an opportunity for the euro to become a global currency amid Trump’s protectionist policies. The US dollar’s sell-off against Asian currencies continues due to concerns over additional tariffs. EUR/USD remained stable, with resistance at 1.12650 and support at 1.14250.

The Australian dollar hit a 5-month high against the US dollar on Monday but struggled to maintain levels above 0.65000. Weak economic data from Australia and China, along with concerns over trade outlook, weighed on AUD. Political stability following PM Albanese’s re-election provided some reassurance. AUD/USD fell by 0.3% towards 0.64480, after reaching a five-month peak of 0.64940. Traders await the US monetary policy meeting for further direction.



Read more at Investing.com: Gold Prices Surge Amid Trump Tariff Fears and Fed Rate Speculation