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Commodities

Weaker Dollar Lifts Gold Prices Amid Anticipation of US Inflation Data

Guavy AI Editorial Team
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Gold
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Gold prices edged higher on Thursday, reaching $4,414.28 per ounce as the US dollar weakened.

The softer dollar made dollar-priced metals less expensive for holders of other currencies, contributing to gold's rise.

Marex analyst Edward Meir noted that geopolitical developments in the Persian Gulf are currently of secondary importance to gold prices, which are instead being driven by a weaker dollar.

US inflation data is set to be released on Thursday and Friday, with key figures including the producer price index and consumer inflation rates. A strong reading could influence the Federal Reserve's interest-rate outlook.

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