Gold remains depressed as hot US CPI lifts Fed rate hike bets and supports USD
Gold (XAU/USD) trades with a negative bias for the second straight day on Wednesday, although it manages to hold above a multi-day low, around the $4,638 region, touched the previous day.
Gold prices are likely to continue declining as rising US CPI strengthens expectations for Fed rate hikes, further supporting the USD. A breach below the $4,638 level may lead to increased selling pressure.
Gold (XAU/USD) trades with a negative bias for the second straight day on Wednesday, although it manages to hold above a multi-day low, around the $4,638 region, touched the previous day.
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