Day: March 14, 2024

Gold Price Drops on Hot US PPI Data, Focus Shifts to Fed Outlook

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Gold price (XAU/USD) experiences a sharp decline following the release of hotter-than-expected US Producer Price Index (PPI) data for February. Sticky inflation strengthens the US Dollar (USD) and boosts bond yields, increasing the opportunity cost of holding non-yielding Gold. Key Factors: Technical Outlook:

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