Analyzes

Gold remains volatile but bullish overall, with $5,000 acting as key support and $5,350 as the upside target if buyers step back in near the 50-day EMA.

A couple of weeks ago, the Federal Reserve’s decision on March 16 was all that mattered for markets. Now, investors hardly remember it. The Iran war has changed everything market players thought about monetary policy paths, and not just for the Fed.

Crude oil continues to rally on geopolitical risks after tanker attacks in the Strait of Hormuz, though extreme volatility means traders should stay bullish but cautious.

Silver remains trapped in a choppy range, with $90 as near-term resistance, $80 as key support, and a longer-term bullish bias still intact above $70.

CAD/JPY continues to favor the upside, with oil strength supporting the Canadian dollar and 115.50 acting as key support for a move toward 118.

USD/CAD rallied as broader risk-off flows outweighed oil strength, keeping the pair in its familiar 1.35 to 1.3750 consolidation range.