FxAnalysis

Silver rallied to the critical $50 level before sharply reversing on Thursday, highlighting intense volatility and signaling potential short-term exhaustion.

Gold is looking to build on Thursday’s late rebound as buyers aim for the key $4,000 level once again early Friday, snapping the corrective decline from lifetime highs of $4,059 set on Wednesday.

EUR/USD remained on the defensive for the fourth consecutive day on Thursday, extending its weekly bearish tone and slipping back to the mid-1.1500s, or nine-week lows.

Spot Gold retreated from the record high of $4,059.36 posted on Wednesday, and plunged below the $4,000 mark in the American session.

The Australian Dollar (AUD) lost traction on Thursday, weighed down by the persistent recovery of the US Dollar (USD). That said, spot broke back below the key 0.6600 level, reflecting a renewed push higher in the US Dollar Index (DXY), which climbed to fresh two-month highs above 99.00.

The EUR/USD pair consolidates weekly losses in an otherwise quiet Thursday, hovering around the 1.1600 level. The pair bottomed at 1.1598 on Wednesday, amid persistent US Dollar (USD) demand in a risk-averse environment.