Gold falls to near $5,100 as inflation fears weigh amidst Middle East conflict | Metals Mine

  • Gold falls to near $5,100 as inflation fears weigh amidst Middle East conflict

    From fxstreet.com

    Gold price (XAU/USD) faces some selling pressure near $5,100 during the early Asian session on Wednesday. The precious metal falls amid a renewed US Dollar (USD) demand and dimming prospects for US rate cuts. The US ISM Services Purchasing Managers Index (PMI) report will be published later on Wednesday. Inflation concerns are resurfacing as oil prices rise, leading markets to reduce the likelihood of a Federal Reserve (Fed) interest rate cut. The Greenback climbed to a three-month high, making USD-denominated gold more expensive for international buyers. Markets largely expect the US central bank to leave the ... (full story)

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