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 depressed during the Asian session on Wednesday. Spot prices reacted little to the Australian GDP print, which showed that the economy grew 0.8% in Q4 Vs. 0.6% expected. Rising geopolitical tensions continue to weigh on investors' sentiment, benefiting the US Dollar's safe-haven status. This continues to undermine the risk-sensitive Aussie despite the RBA's hawkish stance and favors bearish traders.

The USD/JPY consolidates around the mid-157.00s during the Asian session on Wednesday as bulls turn cautious amid intervention fears following the recent rally to a nearly six-week high, reached the previous day. 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, acting as a tailwind for the currency pair.

Gold price faces some selling pressure near $5,100 during the early Asian session on Wednesday. The precious metal falls amid a renewed US Dollar demand and dimming prospects for US rate cuts. The US ISM Services Purchasing Managers Index report will be published later on Wednesday. 

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.