Gold: Stronger USD is a short-term blip – ANZ

FXStreet Team FXStreet

Investment demand for gold is holding up despite bouts of liquidation, with outflows from gold-backed ETFs increasing. The stronger USD and rising real rates have suppressed investor appetite, but strategists at ANZ Bank believe gold’s safe haven appeal will remain strong because of renewed volatility in the equity market and ongoing macro and geopolitical uncertainty. XAU/USD is extending the recovery to $1875 amid the dollar’s pullback.

Key quotes

“A stronger USD and fading prospects of a fresh stimulus package before the US election have triggered a sell-off. Nevertheless, all-time low yields, elevated inflation expectations, accommodative central banks and renewed volatility in the equity market all bode well for the sector.”

“Investment demand for gold is still holding up, despite bouts of liquidation in goldbacked ETFs. Physical demand in Asian markets is improving with imports rising in both India and China ahead of festival seasons.”

“Investors have turned their attention to PGMs, with rising net ETF inflows. We expect platinum to benefit from being cheaper than palladium and from a spill-over from a stronger gold price. A weakening recovery in automobile sales could be a headwind for palladium prices.”

Author

FXStreet Team

FXStreet

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

AUD/USD stuck as the RBA talks tough into a slowdown

The Australian Dollar is going nowhere in a hurry, and the contradiction at its core explains why. The Reserve Bank of Australia keeps dangling the prospect of another hike, yet the economy it governs just expanded 0.3% in the first quarter, a clear step down from the prior pace. A central bank threatening to tighten into a visible slowdown is not a recipe for conviction in either direction, and the tape shows it.

USD/JPY: Japanese Yen coiled at the line, leaning on everyone but Japan

The Yen is doing very little, and that stasis is the whole story. USD/JPY sits glued near 160.00 not because Japan has found new strength, but because two outside forces are fighting to a draw over it: a US rate complex that keeps the dollar bid, and a Ministry of Finance that refuses to let the line break.

Gold declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data looms

Gold price edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

DeFi hack losses drop 80% from 2022 peak as security defenses improve — Immunefi

Losses from decentralized finance exploits have fallen by 80% since reaching a record high in 2022, according to a report released by Immunefi. The report, which analyzed exploit-driven losses across major blockchain ecosystems between 2020 and 2025, found that DeFi protocol losses declined from $2.62 billion in 2022 to $534 million in 2024.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.