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Gold Hits Fresh YTD Lows
Gold prices are attempting to recover today after heavy selling yesterday in response to the latest US inflation data. Headline annualised CPI was seen rising to 4.2% last month, up from 3.8% prior, now back at its highest level since May 2023. Fed rate hike expectations strengthened again in response to the data with market pricing for a hike in October jumping to around 60% from around 50% prior to the data and pricing for a hike by year end holding around 70%. A slightly weaker-than-forecast monthly core CPI reading looks to be the only thing preventing a fresh breakout in USD today, helping gold prices rebound ... (full story)
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- Jun 11, 5:05am | 3 hr ago Posted byTechnical Analysis105
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