Gold: A Haven Awaiting the Inflation Signal

Gold rose by approximately 0.5% to $4,423.81 per ounce, supported by a decline in the US dollar, while US futures climbed to $4,467.90. At this stage, gold does not appear to rely on a single factor. Geopolitical risks provide support, but dollar movements and interest rate expectations have become more significant in determining its direction. If US inflation data comes in higher than expected, bets on monetary tightening may rise, which could pressure gold by bolstering the dollar and lifting bond yields. Conversely, if the data is more subdued, the yellow metal may find new room for gains, particularly amid ongoing geopolitical risks. Silver rose to $67.52 per ounce, while platinum fell to $1,881.56 and palladium stabilized near $1,353.55.