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Gold stays rangebound amid Chinese holiday and lack of catalysts. What's next?
Gold found some support from the benign US CPI report on Friday where headline inflation eased slightly, while the core measure remained unchanged. We saw a small dovish repricing although the data didn’t change anything in the bigger picture. Yesterday, gold dropped again and eventually erased all the post-CPI gains. There was no catalyst for the move, with analysts blaming thinner liquidity amid holidays in Asia. Overall, the outlook for gold remains neutral to bearish at the moment amid improving US labour market conditions that could trigger a more hawkish repricing if the data keeps surprising to the upside. ... (full story)
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