Today at 11:21 AM
Gold trades above $1,780, U.S. Consumer Price Index on the agenda
After falling below the all-important $1,780 support level during the Asian session, the price of gold (XAUUSD) has recovered. The yellow metal's sharp drop on Monday was due to the fact that investors are predicting higher interest rate peaks from the Federal Reserve for the coming year.
It is assumed that the headline inflation rate will decrease to 7.3% from the previous level of 7.7%. These results could set a concrete direction for U.S. monetary policy in the coming months.
If the inflation data turns out to be stronger than expected, the Fed's response could be hawkish. Such measures could strengthen the U.S. currency, and metals markets could feel increased pressure.
Recommended
Today at 11:21 AM
Dollar decline may boost gold prices — Heraeus
Today at 6:55 AM
Today at 6:33 AM
Silver extends rally amid fears of US import tariffs
Yesterday at 11:02 AM
Yesterday at 8:13 AM
Top news
Today at 10:43 AM
Today at 10:20 AM
Today at 9:58 AM
Today at 9:44 AM