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Slightly Stronger Ahead Of US CPI Data


Gold is 0.3% higher in the Asia-Pac session ahead of US CPI data later today, after closing 0.3% lower at $2024.41 on Wednesday.

  • Bullion was initially supported on Wednesday by geopolitical risks before fading into NY session close despite a softer USD index.
  • Investors were possibly gearing up for turbulent trading following the release of US CPI data, which may firm views on when the Fed will start easing monetary policy.
  • Cash US Treasuries are dealing little changed in today’s Asia-Pac session after cheapening slightly on Wednesday.
  • Economists polled by Bloomberg expect core inflation to fall to 3.8% y/y in December from 4% prior.
  • From a technical standpoint, the yellow metal approached support at the 50-day EMA of $2012.8 on Wednesday.

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