Gold prices dipped 0.73% ahead of US inflation data, supported by safe-haven demand

From Investing.com: 2025-03-11 04:06:00

Gold prices dipped by 0.73% as traders repositioned ahead of US inflation data. Despite a weaker stock market, safe-haven demand kept XAU/USD above $2,830. Trade war concerns and geopolitical uncertainty continue to support gold prices, potentially leading to new record highs. The US inflation data release today may impact investor interest rate expectations and trigger volatility in XAU/USD.

The euro remained flat against the US dollar as investors navigated US economic slowdown fears and trade tensions. Wall Street stocks fell sharply on Monday, driven by a sell-off in tech and consumer stocks. EUR/USD stability during the drop indicates that market anxiety is focused on US-specific risks. Changes in domestic policies may drive EUR/USD higher, with the JOLTS Job Openings report today potentially influencing the pair’s direction.

The British pound lost 0.36% against the US dollar as the DXY rebounded. GBP/USD has been in an uptrend due to a weakening US dollar and dovish Fed expectations. The probability of rate cuts by the Fed is higher than by the Bank of England, but weak UK data could shift investor sentiment. GBP/USD may be influenced by the US JOLTS Job Openings data release today, with results above forecast potentially pushing the pair towards 1.28100.



Read more at Investing.com: Gold Prices Retreat Ahead of Crucial US Data – Could CPI Print Spark a Rebound?