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Gold forecast: What's next for XAU/USD amid re-escalation of tensions?

Gold prices gapped lower overnight but have since pushed higher to almost get back to the closing level of Friday's session. The situation in the Middle East has clearly intensified again in the last couple of days, shifting our gold forecast tilted slightly to the downside amid increased risks of another sharp spike in oil prices, which could result in a higher dollar and bond yields.
Date: 20.04.2026  |  Source: forex.com
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Quotes

Instrument Price Change (%)
EURUSD 1.177360 +0.083306%
GBPUSD 1.352590 +0.11324%
USDJPY 158.740000 +0.098371%
XAUUSD 4802.110000 -0.61056%
USDCAD 1.366110 -0.20017%
NZDUSD 0.588610 +0.11055%
USDCHF 0.778450 -0.33927%
AUDUSD 0.716430 -0.025118%
EURGBP 0.870430 +0.017236%
EURJPY 186.896000 +0.15594%
GBPJPY 214.700000 +0.13479%
AUDJPY 113.728000 +0.021987%
CADJPY 116.199000 +0.29779%
CHFJPY 203.906000 +0.46759%
NZDJPY 93.433000 +0.11358%
GBPCHF 1.052800 -0.29831%
EURCHF 0.916530 -0.26226%
USDMXN 17.339480 +0.26879%
USDZAR 16.378960 +0.51217%
USDTRY 44.872400 +0.055968%
USDRUB 74.955700 -0.95051%
USDSEK 9.144900 -0.17466%
USDCNY 6.816900 +0.007335%

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