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Gold holds gains as $4,000 zone supports prices

The move also lifted the Canadian dollar, while trading maintained a risk-on tone across FX and equity futures.

Reported · Written up by our desk · Precious Metals

Gold gained traction on Wednesday, holding a steady bid from late Asian trading through the European close, with buying driven by a mix of peace hopes, a weaker US dollar, and improving risk appetite, according to Forexlive.

Technically, a price area near $4,000 held for roughly five weeks and formed a base before a squeeze higher later in the session, the outlet said.

In foreign exchange, the Canadian dollar strengthened the most, helped by the same gold bid, though other FX moves were described as more muted and generally consistent with a risk-on mood.

In markets, futures pointed higher, but there was early selling tied to a reshuffle in Google’s top AI ranks, and after-hours trading saw Western Digital and Sandisk shares sold following earnings, Forexlive added, with Nvidia rising to lead major large-cap names.

Latest closeGold $4,308.50 ▲5.2%

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