technical

Gold is down on Tuesday, trading around $4,490 after peaking at $4,541 earlier in the day.

Welcome to Japan’s Groundhog Day: the Japanese Yen continues to severely underperform against major global currencies and remains close (again) to the 160.00 threshold against the US Dollar.

Gold is nursing losses below $4,500 early Tuesday after correcting over 1% from two-week highs of $4,595 set on Monday.

Statistics Canada (StatCan) handed the headline writers a gift and the analysts a headache.

The Aussie Dollar seems to have embarked on a consolidative phase, with gains in AUD/USD so far limited by the key 0.7200 region. In this scenario, the pair continues to look for a stronger catalyst to attempt another move to the area of yearly peaks.

Gold is holding the previous pullback from two-week highs of $4,595 early Monday, as buyers struggle to find a fresh impetus amid looming uncertainty surrounding the ceasefire extension deal between the United States (US) and Iran.