10 August 2023
Gold prices (XAU/USD) soar towards $1,930.00, bolstered by the anticipated persistence of the U.S. Consumer Price Index (CPI). July’s monthly headline and core inflation both saw a growth of 0.2%. Though the annual headline CPI at 3.2% was slightly below the forecasted 3.3%, it exceeded the previous 3.0%. Core inflation, which excludes fluctuating food and oil costs, slightly eased to 4.7% compared to expectations and its previous 4.8%. The diminishing influence of decreased demand from central banks appears evident.