Gold and Silver End of Week Review

AUD/USD struggles to capitalize on the previous day's bounce from an over three-week trough and remains heavy near 0.7000 in the Asian session on Wednesday. The pair shrugged off upbeat Q4 Australian GDP print and mixed Chinese PMI data. Rising Middle East geopolitical tensions continue to weigh on investors' sentiment, benefiting the US Dollar's safe-haven status at the expense of the higher-yielding Australian Dollar. 

USD/JPY pulls back to near 157.50 in the Asian session on Wednesday as bulls turn cautious amid Japanese FX intervention fears following the recent rally to a nearly six-week high, reached Tuesday. Meanwhile, reduced bets for an immediate BoJ rate hike undermine the Japanese Yen, while the flight to safety benefits the US Dollar's status as a global reserve currency amid expectations for a less dovish Fed, keeping the downside limited for the pair.

Gold finds renewed Asian bids and retests $5,230 early Wednesday after the heavy sell-off on Tuesday. The US Dollar stands tall amid escalating Middle East tensions and reduced dovish Fed expectations. Gold defends $5,000 or 50% Fibo level after facing rejection at the 78.6% Fibo resistance at $5,342 amid bullish RSI.  

After holding firm heading into the last weekend, Ethereum whales have returned to action, pouncing on the volatility stemming from escalating military actions between the US and Iran.

Even without a confirmed, sustained disruption, the mere risk to a key global energy chokepoint is enough to inject a significant premium into European Gas markets. And for the Euro, that matters.

The US Dollar (USD) is drawing safe-haven support amid sharply escalating tensions in the Middle East, prompting renewed investor concern.