Gold prices experienced volatility after a two-day rally, with market participants becoming cautious ahead of crucial US consumer inflation data that could sway future Federal Reserve policy.
With an 86% probability of a 25 basis points rate cut, the gold market is poised to react significantly to upcoming inflation figures, impacting the Federal Reserve's outlook for 2025.
Central banks worldwide are expected to ease monetary policy, creating a supportive environment for gold. Tensions in the Middle East further underpin the precious metal's appeal.
China's continued loose monetary policy and the resumption of gold purchases by the People's Bank of China signal strong underlying support for gold prices amidst global economic uncertainty.
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