Gold Holds Breath Ahead of US CPI Inflation Test

US CPI Data: Make-or-Break Moment for Gold?
Markets anticipate core CPI to ease slightly to 3.1% YoY (from 3.2%), while headline inflation is expected to hold steady at 2.9%. However, analysts warn that inflation progress could stall later this year, fueled by sticky services inflation and wage pressures.
A hotter-than-expected CPI print could strengthen the US dollar and Treasury yields, pressuring gold prices lower. On the flip side, a softer reading could reinforce rate cut bets, providing fresh momentum for gold’s next rally.
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