Gold

Key insight

4,400 round number holds as near-term anchor; break above the all-time high zone near 4,450 opens a run toward 4,500. Flat 24h change signals consolidation, not reversal — bulls retain control above 4,350 weekly support.

4,407 holds above the 4,400 round-number base — silver's +0.6% outperformance and a weakening JPY confirm broad precious-metals bid; structural uptrend intact above the 200-day MA near 3,850.

Main risk

Real-yield spike on strong US data

Surprise US jobs or CPI beat could lift 10-yr real yields above 2.5%, pressuring gold below 4,350 and triggering stop-runs.