technical

Silver has never been known for its calm temperament.

Gold just flashed a major sell signal on a breach of the critical 200-day SMA. While bears should remain cautious, the upcoming US CPI report could still reverse the outlook, deciding whether Gold rebounds to $4,450 or dives into deeper lows.

The Indian Rupee has rebounded from the all-time low against the US Dollar, helped by coordinated action by the Reserve Bank of India and the government to attract foreign inflows.

Gold is under intense selling pressure, accelerating its decline into a second straight day on Wednesday. The bright metal keeps renewing three-month lows below $4,200 as traders eagerly await the US Consumer Price Index (CPI) data due later in the day.

The Aussie Dollar keeps waiting for a fresh catalyst to resume its march north, which kicked in in late March. Meanwhile, dynamics around the US Dollar and geopolitics seem to have been too much for the Aussie, prompting a correction in AUD/USD to the boundaries of the 0.7000 contention zone.

Financial markets keep revolving around Iran war headlines, and the US Dollar (USD) swings accordingly. The Greenback stayed on the back foot throughout the first half of the day amid developments in the Middle East.