#asian session

The post Gold reverses gains as US CPI data takes center stage appeared on BitcoinEthereumNews.com. Gold (XAU/USD) reverses earlier gains on Tuesday as fading hopes for a near-term breakthrough in US-Iran negotiations and a modest rebound in the US Dollar (USD) weigh on the precious metal ahead of the US Consumer Price Index (CPI) data release. At the time of writing, XAU/USD is trading around $4,694 after hitting a three-week high of $4,773 during the Asian session. US-Iran negotiations remain at an impasse over Iran’s nuclear program. US President Donald Trump told reporters in the Oval Office on Monday that the ceasefire is “on massive life support.” The remarks came after Trump rejected Iran’s latest response to the US-backed peace proposal, calling it “totally unacceptable.” Reports also suggest that the US President is considering a resumption of military operations, alongside a potential restart of “Project Freedom” in the Strait of Hormuz. Meanwhile, Iranian Parliament Speaker

The post Gold drifts higher to near $4,750 ahead of US CPI inflation release appeared on BitcoinEthereumNews.com. Gold price (XAU/USD) trades in positive territory around $4,750 during the early Asian session on Tuesday. The precious metal edges higher as traders assess developments in the United States (US)-Iran diplomacy and await key US inflation data, which is due later on Tuesday.  US President Donald Trump over the weekend rejected an Iranian peace proposal, calling it “totally unacceptable.” This has fueled uncertainty and kept crude oil prices elevated. Trump said later on Monday that the ceasefire between the two countries was on “life support.” The US Consumer Price Index (CPI) report for April will be the highlight later in the day. The headline CPI is expected to show a rise of 3.7% YoY in April, compared to 3.3% in March, driven by surging oil prices. The core CPI is projected to show an increase of 2.7% YoY in April, versus 2.6% prior.  Any signs of hotter inflation in th