Gold grows shortly before the release of inflation data from Japan, China, and the US

The gold price grew shortly before the release of inflation data from China, Japan, and the US. 

The risk profile remains stable because China opens its borders after three years of travel restrictions. Moreover, there was information about the growing number of purchases during the holiday season. The comments of the PBOC representatives also give hope for the growth of the Chinese economy.

On Friday, discouraging data about the wage hike in the US, ISM Services PMI, and factory orders affected the dollar index. Besides, the mixed comments from the Fed representatives and hopes for good records from the US create favorable opportunities for buyers of this precious metal. 

Currently, all attention is focused on the inflation data from China, Tokyo, and the United States. It is important for precious metals trading as central banks prepare to change their tactics.