Gold prices rose for a second day on Thursday, reaching a two-week high near $1,880 an ounce. Gold prices regained momentum as the U.S. dollar and U.S. Treasury yields remained on the defensive as the Federal Reserve remained cautious on interest rates.
Everyone is keeping an eye on the key US CPI inflation data. The dollar maintained its downward momentum amid expectations of a weak U.S. CPI report, which could solidify the Federal Reserve's extension of its pause in raising interest rates this year. Amid weak U.S. CPI, gold prices may usher in a new wave of buying and test the $1,900/ounce mark.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.