Gold prices edged lower on Tuesday despite a softer dollar, as investors awaited US inflation data for clues on the Federal Reserve's interest rate path. Zaye Capital Markets' Naeem Aslam said gold holding above $4,400 suggests defensive demand is enough to offset strong labor market pressure. The market balances hawkish economic data with geopolitical uncertainty-driven safe-haven demand. Focus shifts to this week's PPI and CPI releases.
ChainCatcher News — Gold prices slipped on Tuesday despite a weaker dollar, as investors turned cautious ahead of key US inflation data that could shape the Federal Reserve's rate decision.
"Gold is holding above the $4,400 region, which indicates that defensive demand is sufficient to counter the pressure from a strong labor market," said Naeem Aslam, chief market analyst at Zaye Capital Markets. The market is balancing strong economic data that supports rate hikes against safe-haven demand driven by geopolitical uncertainty.
Attention now turns to the US Producer Price Index (PPI) and Consumer Price Index (CPI) due later this week, which will provide further guidance on the Fed's policy path.
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