Posted 12/12/2023, 11:34:03 AM
Gold Flat Ahead of Inflation Data That Will Shape Rate Cut Hopes
- Gold prices flat Tuesday ahead of release of US CPI data, which will give clues about Fed's policy plans
- Investors await inflation figures to gauge chances of Fed rate cuts in 2023 to boost gold
- Gold faces downside risk if CPI shows hotter inflation, reducing hopes for early Fed easing
- Technicals show bearish picture for gold with key support at $1,980 under threat
- Geopolitical tensions, like Iran attacking US troops, provide some support to gold from safe-haven flows