Gold prices are fluctuating due to a mix of global trade uncertainty, a strong U.S. jobs report boosting the dollar, and upcoming inflation data. While the recent PPI release had a short-lived impact, the US CPI data tomorrow could be a major catalyst for price movement. Analysts are watching for significant deviations from expectations to gauge the impact on treasury yields and gold prices.
and growing uncertainties around global trade and geopolitics. On the other end we had a strong U.S. jobs report last week which boosted the dollar, and thus weighed on Gold prices.release today helped Gold jump back toward the 2670/oz handle after hovering in the 2660’s for the majority of the European session. However the print has not really moved the needle when it comes to rate cut expectations, with markets still pricing in a more hawkish Fed in 2025.
Yesterday news filtered through that Donald Trump’s administration is considering gradually increasing tariffs to avoid causing a sharp rise in inflation, according to sources. I covered the implications of this on the US Dollar as well as an outlook on the US CPI release tomorrow.Gold appears poised for another leg higher looking at basic price action on a daily timeframe.
The 14-period RSI also supports this as the 50 level on the RSI has held firm indicating that bullish momentum remains in play.Dropping down to a H1 chart and as you can see below, the red block has been holding prices in a tight $16-$17 range between the 2674 and 2658 handles respectively.
Gold Price CPI US Dollar Inflation FED
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