March’s US Producer Price Index rose by much less than expected, with core wholesale inflation slowing sharply and services prices coming in completely flat.

Gold is pulling back from four-week highs of $4,871 set earlier in the Asian session on Wednesday, as buyers take a breather, weighing the likelihood of a peace deal reached at the upcoming talks between the United States (US) and Iran.

The Aussie Dollar’s solid rebound since April seems to have strengthened in the last few days, giving bulls back control and paving the way for AUD/USD to perhaps challenge the yearly tops near 0.7200 the figure in the short-term horizon.

March has been a terrible month for precious metals, and they were off to a poor start in April. Despite risk-aversion, investors lean on the Greenback and leave Silver and Gold out of their portfolios.

The story between the two antipodean currencies has been remarkably one-sided over the past year. Since mid-2025, the Australian Dollar (AUD) has steadily gained ground against the New Zealand Dollar (NZD), pushing AUD/NZD toward levels not seen in more than a decade.

The EUR/USD pair trades at around 1.1800 for the first time since last February, as optimism heavily weighs on the US Dollar (USD) demand.