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macroJul 22, 2026, 6:26 PM

Gold Surges Over 1.5% as Dollar Weakness Triggers Breakout

Gold rallied more than 1.5% on Wednesday, breaking above a key resistance trendline and hitting a fresh two-week high, driven by broad US Dollar weakness despite escalating US geopolitical tensions.

XAUUSD

Gold (XAU/USD) jumped over 1.5% on Wednesday, cracking a key resistance trendline and reaching a new two-week high. The rally was fueled by a weakening US Dollar, which boosted the appeal of the dollar-denominated bullion.

This price action occurred against a backdrop of rising tensions and hostilities between the US and other parties, although the exact counterparty was not fully detailed in the source. The metal's gain highlights its safe-haven bid amid currency depreciation.

Source: FXStreet Forex News