Fundamental

Euphoria. That’s the best way to describe the market reaction to Tuesday’s headlines about the US-Iran two-week ceasefire.

Today’s Gold Support Points: $4760 – $4710 – $4630 per ounce.

The GBP/USD pair prolongs its uptrend for the third consecutive day and rallies to over a two-week top on Wednesday, with bulls now looking to build on the momentum further beyond the 200-day Simple Moving Average (SMA).

Gold storms through the roof in Asia on Wednesday, building on the previous rebound and hitting the highest level in three weeks, courtesy of the war relief headlines.

The Aussie Dollar continues to trade in tandem with the broader trends in the risk-associated universe, all amid a fragile geopolitical scenario in the Middle East.

Gold shine has dissipated ever since hitting $5,600 per troy ounce, and market players are wondering whether and when it will come back.