Gold

Key insight

$4,457 clears prior all-time high zone — next resistance sits at $4,500 round number. Dollar weakness and real-rate pressure are the twin engines; a daily close above $4,460 opens a measured run toward $4,600.

Surges +2.86% to $4,457 — EUR/USD +0.6% and USD/JPY -0.8% confirm broad dollar weakness driving the move; silver confirms with +2.7%, validating broad precious-metals demand.

Main risk

USD reversal / real-yield spike

Dollar strength reversal or 10yr real yield surge above 2.5% would pressure gold sharply; watch DXY reclaiming 100 as the pivot.