Gold Fundamental Forecast: US Dollar Weighs on Gold. Will US Retail Sales Alter Course?

Gold Fundamental Forecast: US Dollar Weighs on Gold. Will US Retail Sales Alter Course?

From dailyfx.com

Gold prices slid further last week as traders weighed the chances for an economic recession amid growingly hawkish Federal Reserve sentiment. That was bolstered by several inflation prints out of the United States. The April consumer price index (CPI) crossed the wires at 8.3% y/y, beating analysts’ expectations of 8.1% y/y. The producer price index (PPI) for the same period revealed that factory-gate prices remain highly elevated at 11.0% y/y. That set of inflation data helped to push the US Dollar higher against most of its major peers. A stronger Dollar typically works against bullion prices. The Euro dove, ... (full story)

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