Silver prices are stable around the $65 mark in the American session on Wednesday, after briefly trading above $66, its highest in nearly two months.

The Aussie Dollar’s recovery appears to have met some resistance in the 0.7070-0.7080 band against the US Dollar so far. Indeed, AUD/USD still shows signs of struggling to surpass 0.7000 in a sustainable fashion, while the constructive outlook still appears unchanged above its key 200-day SMA.

Gold is holding firm above $4,400 in Asia on Tuesday, extending its bullish run into a third consecutive day. Traders now look forward to Wednesday’s US Consumer Price Index (CPI) release for the next major move.

Directional bias: while above the 200-day SMA, it should maintain the neutral-to-bullish stance, although a persistent inability to clear 0.7000 leaves spot exposed to another rejection.

Spot Gold trades near the multi-week peak posted on Friday at $4,371.79, recovering ground after starting the week with a down note.

Gold is under renewed selling pressure toward $4,300, kicking off the US inflation week on a negative note and retreating further from seven-week highs of $4,372 set last Friday.