Gold Price Forecast: XAU/USD hits fresh weekly highs beyond the top of a triangle pattern
Source: EODHD - https://www.fxstreet.com/news/gold-price-forecast-xau-usd-hits-fresh-weekly-highs-beyond-the-top-of-a-triangle-pattern-202608050940
Published: Aug 05, 2026 5:40 AM
Gold (XAU/USD) has accelerated its recovery on Wednesday, favoured by a softer US Dollar as lower Oil prices and downbeat US macroeconomic data cooled market expectations of Federal Reserve (Fed) rate hikes on Tuesday.
Market context: This update is relevant to gold traders, with XAUUSD as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.
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Gold Price Forecast: XAU/USD hits fresh weekly highs beyond the top of a triangle pattern
Published Aug 05, 2026 5:40 AM
Last refreshed Aug 05, 2026 7:01 AM
Source:
EODHD
Event Time: Aug 05, 2026 5:40 AM
News data attribution
This market news item includes source data powered by EODHD.