Gold Prices Retreat as Dollar Strengthens and US Yields Rise
TL;DR Summary
Gold prices have pulled back as the US dollar strengthened and US yields rose following better-than-expected jobs data, reducing expectations of large-scale rate cuts. The upcoming US CPI print is expected to impact gold prices, with a softer-than-expected figure potentially weighing further on the dollar and providing a tailwind for gold. Gold has started the week testing a support level at $1985, with resistance levels at $2010 and $2050. The main catalyst for a bullish continuation would be if US CPI cools at a faster rate than anticipated.
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