Analyzes

Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday.

The Aussie Dollar’s recovery appears to have met some resistance just above the 0.7000 threshold against the US Dollar so far. Indeed, AUD/USD still struggles to surpass that mark in a convincing fashion, while the constructive outlook appears unchanged above its critical 200-day SMA near 0.6890.

War drums sound loud at the start of the new week, as Iran and the United States (US) exchanged fire for the ninth consecutive day on Sunday, leading to a firmer US Dollar (USD) and a bullish gap in Oil prices.

The Canadian Dollar (CAD) has ridden a volatile first half of the year, with Oil prices surging and then falling as markets danced to the Middle East’s tune.

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.

While Gold and Copper dominate market attention, Aluminum may be setting up for a much bigger surprise. Beneath the surface, the Aluminum market is tightening fast in what could be the start of a structural supply squeeze.