Fundamental

Gold is back in the red near $4,000 early Friday, snapping a brief rebound seen on Wednesday, and eyes a fourth straight weekly loss.

Spot Gold seesaws around the $4,000 mark on Thursday, confined to a tight intraday range. The bright metal managed to remain above its recent multi-month low of $3,959, as the US Dollar (USD) lost upward steam, despite holding near fresh one-year highs.

The Bank of Japan (BoJ) finally delivered what Yen bulls spent years asking for. On June 16, policymakers raised interest rates to 1%, the highest level since 1995 and a milestone few thought possible only two years ago. Yet the Japanese Yen (JPY) barely reacted.

Gold is nursing losses early Thursday, looking to retest seven-month lows near $3,950, following a failed recovery attempt above the $4,000 threshold.  

The Loonie is trading at a 12-month low against the Greenback, and Oil is the only story the desk wants to tell about it. That story is wrong, or at least it answers the wrong question.

The Aussie Dollar continues to lose momentum, remaining unable to not only find a catalyst that prevents the currency from falling further but also reverse course and at least start trimming its recent weakness  Meanwhile, dynamics around the US Dollar and geopolitics seem to have been too much for