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Gold Price Forecast: Gold Tests Key Resistance as Hormuz Tensions Rise, US Dollar (DXY) Pressured Below 99
These moves come as US–Iran peace proposals remain misaligned, prompting renewed escalation in the Hormuz Strait and across the region. As a result, both geopolitical developments and technical structures are driving potential breakout and reversal scenarios across markets.
Date:
08.05.2026 |
Source:
forex.com
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Quotes
| Instrument | Price | Change (%) |
|---|---|---|
| EURUSD | 1.176550 | +0.35654% |
| GBPUSD | 1.360410 | +0.38889% |
| USDJPY | 156.767000 | -0.08222% |
| XAUUSD | 4721.280000 | +0.72752% |
| USDCAD | 1.365080 | -0.098067% |
| NZDUSD | 0.596470 | +0.45811% |
| USDCHF | 0.778360 | -0.18466% |
| AUDUSD | 0.723780 | +0.42179% |
| EURGBP | 0.864790 | -0.010406% |
| EURJPY | 184.435000 | +0.2593% |
| GBPJPY | 213.263000 | +0.31516% |
| AUDJPY | 113.465000 | +0.37597% |
| CADJPY | 114.835000 | +0.012193% |
| CHFJPY | 201.397000 | +0.10538% |
| NZDJPY | 93.502000 | +0.37357% |
| GBPCHF | 1.058860 | +0.23476% |
| EURCHF | 0.915750 | +0.16078% |
| USDMXN | 17.226610 | -0.4412% |
| USDZAR | 16.391030 | -0.31503% |
| USDTRY | 45.363300 | +0.049624% |
| USDRUB | 74.590000 | -0.083186% |
| USDSEK | 9.203200 | -0.61393% |
| USDCNY | 6.800600 | -0.004411% |
Upcoming Important Events
| Time | Country | Event | Forecast | Previous |
|---|---|---|---|---|
| 08.05.2026 | ||||
| 12:30 | 🇺🇸 | Non Farm Payrolls (Apr) | 62 | 178 |
| 12:30 | 🇨🇦 | Unemployment Rate (Apr) | 6.7 | 6.7 |
| 14:00 | 🇺🇸 | Michigan Consumer Sentiment (May) | 49.5 | 49.8 |
| 09.05.2026 | ||||
| 03:00 | Balance of Trade (Apr) | 83.3 | 51.13 | |
| 03:00 | Exports YoY (Apr) | 7.9 | 2.5 | |
| 03:00 | Imports YoY (Apr) | 15.2 | 27.8 | |
| 11.05.2026 | ||||
| 01:30 | Inflation Rate YoY (Apr) | 0.8 | 1 | |
| 14:00 | 🇺🇸 | Existing Home Sales (Apr) | 4.05 | 3.98 |
| 12.05.2026 | ||||
| 00:30 | 🇦🇺 | Westpac Consumer Confidence Change (May) | 1.1 | -12.5 |
| 01:30 | 🇦🇺 | NAB Business Confidence (Apr) | -32 | -29 |