Gold

Key insight

$4,279 consolidates below round-number resistance at $4,300; a daily close above triggers the next leg toward $4,500. Silver's -1.3% underperformance signals short-term risk appetite rotation but does not invalidate gold's macro bid.

Holds $4,279 after a historic run above $4,000; structural bid from central bank accumulation and real-rate compression keeps the trend intact despite a mild -0.17% pause.

Main risk

USD/JPY Rebound & Dollar Strength

USD/JPY +0.3% to 158.8 signals dollar firming; sustained DXY strength above 104 would pressure gold toward $4,180 support.