Fundamental

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Gold traders are currently obsessed with inflation, interest rates, and the US Dollar. But what if the biggest risk to Gold isn’t any of those right now? 

Gold is holding its five-day winning streak near $4,350 in Asian trading on Wednesday, but remains within this week’s familiar range. Traders look forward to the all-important US Federal Reserve (Fed) monetary policy decision for a clear directional impetus.

The Aussie Dollar is still looking for a fresh catalyst to resume its upward trend, which began in late March and appears to have lost momentum ahead of the 0.7300 hurdle in early May.

Gold bottomed at $4,023 early in June, its lowest since last November. Ever since then, the bright metal has recovered roughly $300, but could the rally continue? Is there a chance for Gold?

The Bank of Japan (BoJ) pushed its short-term policy rate to 1% on Tuesday, the highest setting since 1995 and a 31-year milestone in a normalization cycle barely two years old. It is the kind of number that should mark a turning point for the Yen, and it did almost nothing.