Gold Price Forecast: XAU/USD holds gains above $4,700 amid...

Gold Price Forecast: XAU/USD holds gains above $4,700 amid US Dollar weakness

Published May 08, 2026 6:03 AM Last refreshed Jul 29, 2026 11:03 AM Source: EODHD Event Time: May 08, 2026 6:03 AM

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Gold Price Forecast: XAU/USD holds gains above $4,700 amid US Dollar weakness

Source: EODHD - https://www.fxstreet.com/news/gold-price-forecast-xau-usd-holds-gains-above-4-700-amid-us-dollar-weakness-202605081003
Published: May 08, 2026 6:03 AM

Gold (XAU/USD) holds gains above $4,700 on Friday, supported by a weaker US Dollar, despite the cautious mood in financial markets due to recent fire exchange between the US and Iran and doubts about the fate of a fragile ceasefire.

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.