Gold was trading very sideways this weekend at a level near $4,510 with a negligible drop of 0.12%, as the macroeconomic environment is rather confusing. The precious metal is nicely consolidating along the lower side of a significant falling wedge. This pattern is reflecting a diminishing geopolitical risk premium, offset by a strong bid for bullion as a result of the ongoing official sector buying from global central bankers. Inflation data from April came in hotter than expected and is still driving markets to adjust lower. The persistent rise in prices has led traders to reduce their expectations for rate cuts, ... (full story)