
Gold Prices Volatile Amidst US Inflation Data and Rate Hike Uncertainty
Gold prices fluctuated throughout the week, influenced by US inflation data and speculation about potential Federal Reserve interest rate hikes. The precious metal initially held steady near $4,160 as markets awaited US Consumer Price Index (CPI) data, which came in above expectations, increasing selling pressure. Gold futures extended losses for three consecutive sessions, falling to $4,107.90. However, prices rebounded, gaining over 1% on Thursday as the US dollar eased and global bond yields declined. Market participants awaited remarks from Fed Chair Jerome Powell for further guidance.7 sourcesSee all sources
