XAUUSD

The performance of gold (XAUUSD) is shaped in parallel with the cautious stance in global markets and the trends of the US dollar. Data on unemployment claims and housing sales to be announced from the US today are expected to lead to short-term fluctuations in gold prices. Investors' main focus is on tomorrow's US CPI data. If inflation exceeds expectations, the perception that the Fed will continue its tight monetary policy could put pressure on gold. In the opposite scenario, if inflation does not meet expectations, comments may be made suggesting that interest rate hikes have come to an end, which could lead to an upward movement in gold. Weak growth data from China and decreased risk appetite due to holidays throughout the week continue to support demand for gold, seen as a safe haven.