Gold is near $1,890 ahead of US inflation data
Gold prices are fluctuating on Thursday due to the imminent release of official data. The updated statistics are expected to show inflation easing in the U.S.
The Consumer Price Index is due to be published at 13:30 GMT. After the statistics release, the decline in inflation compared to last month will be confirmed. Accordingly, it will require the Fed to ease its aggressive policy after a rapid interest rate hike in 2022.
This scenario must be favourable for precious metal prices, as the outlook signals less short-term pressure on unprofitable assets from high interest rates. Markets are betting that lower inflation will eventually force the Fed to suspend its current rate hike cycle.
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