Gold holds flat as US CPI risk offsets ceasefire optimism
Gold managed to gain some ground as traders bought the dip.
Gold was bouncing off earlier lows at the time of writing, but the downside risks remain. The metal has come under strong pre.
Gold markets continue to see volatility based on interest rates in the United States, and other major economies. At this point in time, we continue to see the latest headlines as a massive issue.
Gold remains firmly in red on Monday and hit 2 ½ month low on Monday, in extension of Friday's 3.2% drop (the biggest daily loss since March 19).
Gold Price Forecast: XAU/USD hits over two-month low under $4,300 as US yields rally
Gold has extended losses on Monday, falling to its lowest level in two months as stronger-than-expected U.S. economic data and renewed tensions in the Middle East push Treasury yields and the U.S. dollar higher.
Gold's near-5% collapse last week has extended into the new week, with selling pressure accelerating as investors continue to reprice the global interest rate outlook. The precious metal is now approaching a critical test, with a retest of the March low near $4,100 increasingly likely and the psychologically important $4,000 level beginning to come into view.
Strong NFP data crushed Fed rate-cut hopes, sending gold lower. This week's CPI and PPI reports could determine whether selling pressure accelerates.
Philippines Gold price today: Gold falls, according to FXStreet data
United Arab Emirates Gold price today: Gold falls, according to FXStreet data
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