Gold

Key insight

4,287 holds as near-term consolidation beneath all-time highs; a daily close above 4,320 round resistance opens a run toward 4,400 — Silver's +0.7% outperformance confirms broad metals bid.

Holds $4,287 after a historic run above $4,000; structural bid from central bank diversification and geopolitical risk premium keeps dips shallow — 200-day MA at $3,650 remains far below.

Main risk

USD/JPY strength — dollar demand spike

USD/JPY +0.4% to 155.0 pressures gold; a sustained break above 156 could trigger a pullback toward $4,200 support.