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Gold Climbs, Silver Tests Resistance as US Dollar Gains on CPI Data
Global markets traded cautiously on Wednesday as traders assessed fresh US inflation data and shifting central bank expectations. Gold extended its advance toward $3,350 on rising Federal Reserve rate cut bets, while silver tested key trend-line resistance near $38.20. The US Dollar strengthened against the Canadian Dollar after CPI figures, the New Zealand Dollar softened amid persistent Chinese deflation concerns, and the Australian Dollar steadied following recent losses. Gold is trading around $3,350, supported by growing expectations of Federal Reserve rate cuts and easing inflation pressures. ... (full story)
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