Gold price maintains its position above $1,950, attempting to halt the losses during the Asian session on Thursday.
Gold price attempts to snap the losses on the subdued Greenback. Gold experiences challenges as Fed officials push back against the idea of cutting interest rates. China’s inflation declined by 0.2% against the 0.1% expectations. The precious metal is experiencing a negative tone, potentially influenced by US Federal Reserve officials resisting the notion of reducing interest rates. China’s Consumer Price Index declined by 0.2% annually against the expected decline of 0.1% in October.
48%, which typically puts pressure on the US Dollar . The markets are in a bit of a quiet spell this week, with investors eagerly awaiting fresh cues before making any moves, especially with the upcoming Federal Reserve decision looming in December. The price of gold encounters challenges, partly due to traders incorporating a reduced risk premium resulting from the Israel-Hamas conflict. The absence of an escalation in the conflict has led to a decrease in safe-haven demand for Gold.
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