AUDUSD extended rally for nearly two weeks and hit three-year high on Thursday (0.7093), before easing. Weakening US dollar and Aussie tracking strong rise in precious metals, were mainly behind the latest rally (up over 6% since the move started on Jan 19). Bulls broke and established above psychological 0.70 level, but faced strong…

When gold broke through magic $5000 barrier on Monday, I was asked whether the metal can reach $5500 in coming months? My answer was that $6000 per ounce is very likely and in a matter of weeks, not by the end of the year, as some analysts predicted. Four days later, gold touched the high at almost $5600, so if we follow that logic, reaching…

Gold cracked $5300 barrier and hit new record high ($5311) in early Wednesday, remaining in steep and uninterrupted rally that has registered the fastest moves from one to another round-figure level (less than 25 hours), after the price broke psychological $5000 barrier. The latest strong fall of dollar (Tuesday) that pushed the currency to the…

USDJPY remains in a steep fall for the third consecutive day (down almost 4%) with speculations that intervention may be behind the move, along with increased safe-haven demand and month-end flows. Fresh extension lower on Tuesday broke through significant supports at 153.62 (the base of thick ascending daily Ichimoku cloud / 100 DMA) and…

The Euro keeps firm tone and holds near fresh multi-month high (1.1907, posted on Monday) following last week’s strong rally and gap-higher opening at the start of this week. Weak dollar with signals of possible deeper drop, was mainly behind the latest advance. Friday’s close above broken Fibo 76.4% of 1.1918/1.1468 (1.1812) confirmed firm…

Gold took out $5000 barrier in one single step on Monday, in a widely expected post-weekend action, but made a small surprise to traders by extension to $5100, which happened in just few hours of early Monday’s trading. The yellow metal started trading with a gap higher and opened slightly above $5K following news over the weekend that added to…

In one of my daily briefings earlier this week, I was asked whether the gold is going to hit $5000. My answer was that this may occur the earliest on Friday (today) or sometime next week. With persistently favorable conditions, it is not so difficult to predict the action in the near future, as a cocktail of factors that drive the metal’s price…

Steep bull-leg from the larger higher base at 0.6665 zone extends into fourth straight day and hit the highest level since late September 2024 on Thursday (0.6811). The Aussie dollar was inflated by weaker US dollar on the recent rally into safety of precious metals, following escalation of conflict between the US and EU over Greenland, while…