Gold price clings to all-time highs and awaits US Inflation data for further action.
by Sagar Dua
FX Street
Gold price (XAU/USD) rally hit a pause in Monday’s European session as investors await the United States Consumer Price Index (CPI) data for February, which will be published on Tuesday. The precious metal takes a breather as the inflation data will provide cues about the US interest rate outlook.
The Gold price remains near all-time highs as yields on interest-bearing government bonds were hit hard after the Nonfarm Payrolls (NFP) report indicated that the labor market conditions are cooling. The 10-year US Treasury yields drop to 4.07%. The US Dollar Index (DXY) also exhibits a subdued performance, trading at around 102.73. On Friday, the USD Index recovered after printing a fresh seven-week low near 102.35.