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Gold Higher on Traders' Dovish Fed View
Gold prices are turning higher today but the market remains well within the range which has framed price action over the last four months. Following a strong rally over Q1 gold prices have been stuck within a roughly 10% range down from those YTD highs printed in April. A mixture of uncertainty around Trump’s trade agenda, fluctuating geopolitical tensions and a changeable Fed outlook have combined to keep price hemmed in recently. This week, gold prices are turning higher again on the back of yesterday’s weaker-than-forecast US inflation data. Annualised headline CPI was seen holding at 2.7% last month, below ... (full story)
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