Gold remains subdued as inflationary risks reduce Fed rate cut bets
Gold consolidates near the 20-day moving average following a wedge-triggered selloff, forming a bearish flag pattern that could set the stage for a second leg lower.
The three-day sell-off from late January and early February continues to define gold price action, as that sweeping snapback move saw prices give back more than $1,000 in short order, and at this point neither the high nor low have been taken out.
Gold slips as US Dollar, yields rise on Oil-driven inflation fears
Precious metals traders stay focused on oil market dynamics.
Poland has a one-off chance to use unrealised profit on gold reserves to finance military spending, National Bank of Poland Governor Adam Glapinski said on Wednesday, adding that the government has expressed "zero interest" in the proposal however.
Gold continues to see questions about momentum on Wednesday, as traders are trying to determine if momentum can pick up from here.
Gold: Recovery builds with easing Dollar – OCBC
Gold stalls below $5,200 as markets brace for US inflation data
Gold climbs above $5,200 on Middle East tensions and a weaker US dollar, while silver tests $90 resistance. Can XAU reach $5,330 next?
Gold managed to print above 5227 which could lead to a higher advance. Intraday prices show support around 5194 where as long as the market holds above it, the advance wave could expand toward the target of 5300.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data