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Back Above $1,800/oz

GOLD

The softer than expected U.S. CPI print (and related perceptions surrounding the knock-on impact for Fed monetary policy settings) allowed gold to recover from worst levels of the day on Tuesday, with our weighted U.S. real yield monitor ultimately finishing little changed on the day. The same held true for the broader USD (as measured by the DXY), despite a brief round of USD weakness post-CPI, which was subsequently unwound. The technical overlay remains as it was, with spot last dealing at virtually unchanged levels just shy of $1,805/oz.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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