-
Gold (XAUUSD) Consolidates as Bond Yields Rise and US Dollar Hits Resistance
Gold (XAU) prices consolidate in tight ranges after the release of a softer-than-expected US inflation report. The inflation data shows mixed signals. The headline CPI for April rose 0.2% month-on-month, below the forecast of 0.3% but higher than March’s -0.1%. On the other hand, the core CPI also increased by 0.2%, below expectations of 0.3%. However, the chart below shows that the annual CPI came in at 2.3% year-over-year, slightly under the expected 2.4%, while core CPI remained at 2.8%. These figures suggest that inflation remains under control, which reduces the urgency for aggressive Fed action, thereby ... (full story)
