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Metals Rally on Asia Demand | 9th February, 2026

Metals Rally Accelerates Global markets trade with a constructive tone as precious metals surge on strong Asia-led demand. Gold jumps above the $5,000 mark amid renewed buying from China, while Silver holds firm near $80.50 as Japan-linked reflationary trades continue to gain traction. In FX markets, the Australian Dollar strengthens on a hawkish RBA outlook, the Euro benefits from a softer US Dollar, and regional currencies remain supported by ongoing policy guidance from China. Gold (XAU/USD) Forecast Current Price and Context Gold has surged above the $5,000 mark as strong buying demand from China drives fresh upside momentum. Renewed interest from official and institutional buyers underscores gold’s role as a strategic hedge amid global policy uncertainty. Key Drivers Geopolitical Risks: Persistent geopolitical uncertainty supports safe-haven demand. US Economic Data: Softer US data expectations weigh on real yields. FOMC Outcome: Reduced urgency for Fed tightening supports non-yielding assets. Trade Policy: Trade fragmentation reinforces diversification into gold. Monetary Policy: Central bank buying, particularly from China, remains a key structural driver. Technical Outlook Trend: Strong bullish continuation. Resistance: $5,120 Support: $4,920 Forecast: Gold may extend gains while Asia-led demand remains firm. Sentiment and Catalysts Market Sentiment: Strongly bullish. Catalysts: Central bank purchase data, US yields, Asia demand indicators. Silver (XAG/USD) Forecast Current Price and Context Silver is holding gains near $80.50, supported by Japan-led reflationary trades and rising expectations of stronger industrial and investment demand. Key Drivers Geopolitical Risks: Broader uncertainty sustains precious metals demand. US Economic Data: Cooling growth expectations favor metals. FOMC Outcome: Dovish Fed expectations underpin silver prices. Trade Policy: Global supply chain realignments support industrial demand outlook. Monetary Policy: Japan’s reflation narrative boosts precious and industrial metals. Technical Outlook Trend: Bullish with consolidation. Resistance: $82.00 Support: $78.40 Forecast: Silver may attempt further upside if reflation trades persist. Sentiment and Catalysts Market Sentiment: Bullish. Catalysts: Japan macro signals, risk sentiment, gold price direction. EUR/USD Forecast Current Price and Context EUR/USD is pushing toward the 1.1830–1.1835 zone as US Dollar weakness persists, with market focus shifting toward delayed US Nonfarm Payrolls data. Key Drivers Geopolitical Risks: Reduced immediate risk supports selective EUR demand. US Economic Data: Delayed NFP keeps USD on the defensive. FOMC Outcome: Growing expectations of Fed patience support EUR upside. Trade Policy: Trade stability offers modest support to Eurozone sentiment. Monetary Policy: Fed-ECB policy divergence remains a limiting factor. Technical Outlook Trend: Mild bullish bias. Resistance: 1.1860 Support: 1.1760 Forecast: EUR/USD may consolidate near highs while awaiting US data clarity. Sentiment and Catalysts Market Sentiment: Cautiously bullish. Catalysts: US NFP data, Fed commentary, Eurozone releases. USD/CNY Forecast Current Price and Context USD/CNY remains stable as policy support continues to anchor regional FX markets, according to MUFG. Managed currency guidance limits volatility despite broader global shifts. Key Drivers Geopolitical Risks: External tensions remain a background consideration. US Economic Data: USD softness has limited impact due to policy management. FOMC Outcome: Fed uncertainty influences offshore pricing. Trade Policy: Trade normalization efforts support stability. Monetary Policy: PBOC guidance remains the primary anchor for USD/CNY. Technical Outlook Trend: Sideways and controlled. Resistance: 6.9850 Support: 6.9400 Forecast: USD/CNY is expected to trade within a narrow, policy-driven range. Sentiment and Catalysts Market Sentiment: Neutral and policy-dependent. Catalysts: Daily PBOC fixings, China policy updates. AUD/USD Forecast Current Price and Context AUD/USD has climbed above the 0.7000 level as a hawkish tone surrounding the RBA outlook boosts demand for the Australian Dollar amid stronger commodity prices. Key Drivers Geopolitical Risks: Reduced risk aversion supports high-beta currencies. US Economic Data: USD softness aids AUD upside. FOMC Outcome: Expectations of Fed patience favor AUD. Trade Policy: China-linked trade dynamics remain supportive. Monetary Policy: Hawkish RBA expectations underpin strength. Technical Outlook Trend: Bullish continuation. Resistance: 0.7080 Support: 0.6950 Forecast: AUD/USD may extend gains if RBA expectations remain firm. Sentiment and Catalysts Market Sentiment: Bullish. Catalysts: RBA commentary, commodity prices, China-related data. Wrap-Up Overall, metals remain firmly in focus as sustained Asian demand reshapes price dynamics across gold and silver. While foreign exchange markets reflect selective strength tied to central bank expectations and policy support, the dominant narrative remains commodity-led. With Asian demand signals, central bank guidance, and upcoming macro data in focus, market participants are likely to remain attentive to further momentum in precious metals. Ready to trade global markets with confidence? Join Moneta Markets today and unlock 1000+ instruments, ultra-fast execution, ECN spreads from 0.0 pips, and more! Start now with Moneta Markets!

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Publication date:

2026-02-09 08:37:22 (GMT)

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