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Gold awaits potential US inflation catalyst

Spot gold has been meandering around the mid-$1800 region ahead of the incoming US CPI print, with 10-year Treasury yields also not straying far from the psychologically-important 3% mark.

The precious metal has been finding adequate support at its 200-day moving average for the time being, amid growing market concerns surrounding recession risks.

Gold awaits potential US inflation catalyst


Stubbornly-elevated inflation is threatening to further erode consumption while raising the specter of a monetary policy mistake, with such risks supporting demand for safe havens.

Should the incoming US CPI print show signs that inflation has peaked, perhaps taking some of the edge off the Fed’s ultra-hawkish stance, such a narrative may encourage bullion bulls to push the precious metal above its previous cycle high and back closer to $1900.

However, evidence that the Fed may have to do more in quelling runaway consumer prices may well drag spot gold below its 200-day MA.



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