Ahmad Elbasioni 556 posts 0 comments

Gold briefly slipped below the key $5,000 support on Friday, extending a dramatic two-day drop of over $600. As noted in yesterday’s commentary, the risk of a pullback had risen after the yellow metal posted nine consecutive days of…
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WTI crude extended its gains on Wednesday, building on Tuesday’s 2.9% rally to reach a four-month high near $63.50. The advance was driven by a softer U.S. dollar, disruptions to U.S. crude production caused by a severe winter storm, and…
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Gold surged past the $5,300 mark, reaching a new record high of $5,311 early Wednesday, extending its steep and uninterrupted rally. The metal has been moving at unprecedented speed, hitting successive round-number levels in less than 25…
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USDJPY remains in a steep decline for a third straight day, falling nearly 4% amid speculation that intervention may be contributing to the move, alongside rising safe-haven demand and month-end flows. The downside extended further on…
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The euro remains firm, holding near a fresh multi-month high of 1.1907 reached on Monday, following last week’s strong rally and a gap-higher opening at the start of this week. The recent advance was mainly driven by a weaker U.S.…
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Silver extended its gains above the psychological $100 level, which was breached on Friday when the market closed at $103.23, and surged to a new all-time high well above $111 on Monday. The metal has been strongly supported by a sharp…
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Gold cleared the $5,000 barrier in a single move on Monday, as widely anticipated following weekend developments. It then surprised traders by extending the rally to $5,100 within just a few hours of early trading. The metal opened with…
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In one of my daily briefings earlier this week, I was asked whether gold is likely to reach $5,000. My response was that this could happen as early as today (Friday) or sometime next week. Given the persistently supportive conditions, it…
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The AUDUSD rally extended into a fourth consecutive day, climbing from the broader support zone around 0.6665 and reaching its highest level since late September 2024 on Thursday at 0.6811. The Australian dollar gained momentum as the…
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Gold reached a new record high of $4,888 on Wednesday, drawing even closer to the psychologically important $5,000 level, which appears increasingly likely to be challenged soon if current market conditions persist. The yellow metal’s…
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