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Analysts: Gold Price Mildly Rising, Market Awaits PPI Data Reaction
Summary: Gold prices rose mildly on Wednesday due to a weaker US dollar, with investors awaiting clearer trade negotiations between the US and its trading partners, as well as another set of PPI inflation data that could provide further guidance on the Fed's policy outlook. Independent analyst Ross Norman stated, 'The US dollar softened ahead of ...
Gold prices rose mildly on Wednesday due to a weaker US dollar, with investors awaiting clearer trade negotiations between the US and its trading partners, as well as another set of PPI inflation data that could provide further guidance on the Fed's policy outlook. Independent analyst Ross Norman stated, 'The US dollar softened ahead of the release of US PPI data, as traders took a cautious stance following recent gains, leading to a mild rise in gold prices.' However, Ajay Kedia, head of Kedia Commodities, noted that despite Trump's new tariffs, the gold market has repeatedly fallen below the $3400 mark. Earlier, ANZ Bank predicted in a report, 'In the short term, gold prices may consolidate, then rise again to $3600 per ounce by the end of the year.'
