Gold prices recovered and moved higher on Thursday after the latest US inflation data came largely in line with market expectations. The report reduced immediate concerns about aggressive interest rate hikes by the US Federal Reserve, causing both the US dollar and Treasury yields to decline.
inflation data
Gold, Silver Smash Record Highs on Inflation Data & Fed Probe Buzz
(Bloomberg) — Gold and silver hit records on Tuesday after a weaker-than-expected US inflation reading, while markets kept a close eye on the Trump administration’s renewed attacks on the independence of the Federal Reserve.
Gold Prices Likely To Stay in Correction Mode Ahead of Key US, China Economic Data – Analysts Warn
Gold prices are expected to remain in a corrective phase in the coming week ahead of the crucial US inflation data, continuing uncertainties over trade tariffs and key economic numbers from China, analysts said.
Dollar Gives Up Weekly Gains after U.S. Reports Soft Consumer Inflation Data
The dollar was poised for a third weekly gain on Friday after positive U.S. economic data lowered expectations for rate cuts by the Federal Reserve anytime soon.