Deutsche Bank's Macro Strategy report highlights a significant recovery in Gold prices, which posted their largest daily gain since 2008. Gold rose by 6.12% to $4,947/oz, with further increases noted overnight.
Silver price (XAG/USD) climbs to around $87.60 during the Asian trading hours on Wednesday. The white metal rebounds after facing a historic correction last week as dip-buyers enter the market.
Brown Brothers Harriman (BBH) analysts report that the Reserve Bank of Australia (RBA) has raised the cash rate target by 25bps to 3.85%, marking the first increase since 2023. This decision was largely anticipated by the market, with inflation expected to remain above target for some time.