MarketPulse by OANDA Group·2026-04-17·via All Articles on Seeking Alpha
Summary
After rebounding ~18% from March lows, gold is consolidating below the $4,900 resistance (near the 50-day MA), with technicals suggesting a potential bullish breakout if this level is cleared.
Rising odds of Fed rate cuts, a weakening US dollar, and declining US real yields are reducing opportunity costs and creating a supportive backdrop for gold prices.
Gold has lagged equities despite similar macro drivers, but intermarket dynamics point to a potential bullish catch-up move, towards $4,980/5,039 and $5,125/5,166 with key short-term support at $4,700/4,645.
Alllex/E+ via Getty Images
By Kelvin Wong
Gold (XAU/USD) has held steady on Friday, 17 April 2026, during the Asian session with a minuscule intraday gain of 0.2% to trade at $4,800 at this time of writing.
