Lates News

The fragile ceasefire situation between the US and Iran has cast a shadow over the future, affecting the price of gold, which has dropped in response. In early European trading, New York gold futures fell by 0.7% to $4697.70 per ounce. Analysts at ANZ Bank pointed out, "The market seems to be caught in a dilemma, on one hand anxiety caused by geopolitical tensions, on the other hand concerns about rising inflation." At the same time, physical gold demand may also face risks as the Indian Prime Minister has urged citizens to defer buying gold for the next year to help maintain the country's foreign exchange reserves. Traders are currently awaiting the release of key inflation data in the US, with the Consumer Price Index (CPI) scheduled for Tuesday evening and the Producer Price Index (PPI) data set to be released on Wednesday.