Gold XAU/USD eases from $4,630 ahead of US CPI release

LONDON (January 13) Gold (XAU/USD) posts moderate losses in a calm trading session on Tuesday, pulling back from all-time highs at $4,630, but still above previous highs in the $4,560 area. A moderate recovery of the US Dollar following hawkish comments by Fed Williams and investors’ cautiousness ahead of the UC CPI release is weighing on precious metals on Tuesday.

Markets are bracing for a moderate uptick in inflation, following the November’s unexpected slowdown. The Headline CPI is expected to have grown at a steady 2.7% year-on-year pace, while core inflation is forecast to accelerate to 2.7% from 2.6% last month. All in all, figures that curb hopes of further Fed easing anytime soon.

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