Gold Price Stalls as Traders Brace for US Inflation Figures

Wednesday, 28 February 2024, 04:11
In the latest update, the gold price remains range-bound ahead of the crucial US inflation data release scheduled for Thursday. The XAU/USD pair showed slight gains in the Asian session, pausing its retreat from the resistance zone at $2,040-$2,042. Traders are closely monitoring these movements as they anticipate the upcoming impact of the US inflation figures on gold prices. Overall, the market is in a holding pattern, awaiting key economic data for further direction.
https://store.livarava.com/60a42940-d5f8-11ee-b893-5254a2021b2b.jpe
Gold Price Stalls as Traders Brace for US Inflation Figures

Gold Price Stalls Ahead of Key US Data Release

The gold price, represented by the XAU/USD pair, has shown a slight increase in the Asian trading session, signaling a temporary pause in the recent pullback from the $2,040-$2,042 resistance level.

Traders Watchful for US Inflation Data

Market participants are keenly awaiting the upcoming US inflation data scheduled for Thursday, which is expected to provide insights into the future direction of gold prices.

  • Key Fact: Gold price confined in a narrow range as traders remain cautious.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe