Gold Prices Ease as Traders Await U.S.-Iran Talks and Inflation Data
Gold prices declined in early European trading, falling 0.8% to $4,738.10 per ounce after briefly surpassing $4,800. The dip is attributed to market uncertainty surrounding upcoming U.S.-Iran diplomatic talks and the impending release of key U.S. inflation data, including PCE and CPI figures. Sentiment has been further dampened by doubts regarding the durability of a two-week cease-fire, which has reignited fears of rising energy costs and persistent inflation. Additionally, minutes from the Federal Reserve's March meeting indicated that officials anticipate slower progress in reducing inflation than previously expected. Despite the short-term correction, Standard Chartered analysts predict gold could rebuild gains and retest record highs later this year due to heightened geopolitical risks and continued net buying by central banks.
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Gold Prices Ease as Traders Await U.S.-Iran Talks and Inflation Data
Gold prices declined in early European trading, falling 0.8% to $4,738.10 per ounce after briefly surpassing $4,800. The dip is attributed to market uncertainty surrounding upcoming U.S.-Iran diplomatic talks and the impending release of key U.S. inflation data, including PCE and CPI figures. Sentiment has been further dampened by doubts regarding the durability of a two-week cease-fire, which has reignited fears of rising energy costs and persistent inflation. Additionally, minutes from the Federal Reserve's March meeting indicated that officials anticipate slower progress in reducing inflation than previously expected. Despite the short-term correction, Standard Chartered analysts predict gold could rebuild gains and retest record highs later this year due to heightened geopolitical risks and continued net buying by central banks.
WSJ.com: Markets