GOLD prices near highs as markets await US inflation data
Gold prices are holding near recent highs on Tuesday, with markets waiting for further signals on the U.S. economy from inflation data and the Federal Reserve’s March meeting minutes due later this week. The precious metal is benefiting from safe-haven demand amid concerns over slowing economic growth and uncertainty over monetary policy. However, prices retreated from an over one-month high after the release of the strong U.S. nonfarm payrolls data in March, indicating the job market’s resilience.
Investors are now eyeing consumer price index inflation data, scheduled to be released on Wednesday, to understand whether the Federal Reserve will continue to increase interest rates, which could be negative for gold markets. The inflation reading on Wednesday is expected to remain relatively high.
Investors are now eyeing consumer price index inflation data, scheduled to be released on Wednesday, to understand whether the Federal Reserve will continue to increase interest rates, which could be negative for gold markets. The inflation reading on Wednesday is expected to remain relatively high.
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