Phil Carr
The Gold & Silver Club
Gold prices hovered near three-month highs on Wednesday as traders await a fresh fundamental spark to ignite the precious metals next big move.
As the world comes out of lockdown and demand for goods and services rises – traders have now shifted their attention to inflation figures, due for release on Wednesday.
All eyes are now on Consumer Inflation data for April, which is expected to show the biggest year-over-year gain in nearly a decade.
Traders expect the April CPI figures to show a sizzling 3.6% jump on a year-over-year basis. That compares to 2.6% the month earlier.
The Producer Price Index is reported on Thursday and that should confirm a trend of higher prices that is showing up in corporate earnings releases. Another important data point, will be U.S Retail Sales data released Friday.
So far this year, the Fed has maintained their stance to allow inflation to run hotter than its traditional 2% goal, stating that any price acceleration will be temporary. However, if the inflation appears hot when the figures are reported – this could once again ignite the debate about whether the Fed will be forced into winding back its ultra-loose monetary policy sooner than it would like.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
AUD/USD consolidates gains near 0.6400; remains close to YTD top
AUD/USD holds gains near the 0.6400 mark early Friday and remains well within striking distance of the YTD peak touched earlier this week. A positive risk tone and a potential for a de-escalation in the US-China trade war act as a tailwind for the Aussie but fresh US Dollar byuing could check the pair's upside.
USD/JPY rises above 143.00 amid hot Tokyo CPI print
USD/JPY attracts some dip-buyers adn retakes 143.00 following Thursday's pullback from a two-week high as hopes for an eventual US-China trade deal tempers demand for the JPY. Data released this Friday showed that core inflation in Tokyo accelerated sharply in April, bolstering bets for more rate hikes by the BoJ.
Gold eyes US-China trade talks and third straight weekly gain
Gold price holds Thursday’s rebound, defending weekly gains near $3,350 early Friday. Gold buyers catch a breather, taking stock of the trade developments globally after US President Donald Trump’s tariffs whiplash.
Bitcoin, Ethereum and Ripple to consolidate strong weekly gains
Bitcoin price stabilizes around $93,000 on Friday, following a 9.5% rally so far this week. Ethereum and Ripple followed BTC’s move and rallied by 10% and 5%, respectively. However, these coins exhibit signs of bullish exhaustion on their momentum indicators.
Five fundamentals for the week: Traders confront the trade war, important surveys, key Fed speech Premium
Will the US strike a trade deal with Japan? That would be positive progress. However, recent developments are not that positive, and there's only one certainty: headlines will dominate markets. Fresh US economic data is also of interest.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.