"Inflation's Impact: Gold Prices Set to React to US CPI Report and Rising Bond Yields"
TL;DR Summary
Gold prices fell due to rising U.S. Treasury yields and a stronger U.S. dollar, while EUR/USD and GBP/USD edged lower but held above key support levels. The upcoming U.S. inflation report is expected to bring volatility, potentially impacting yields, the dollar, stocks, and gold prices. Traders should prepare for possible market turbulence and consider various scenarios based on the inflation data.
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