Gold drifts higher to near $4,750 ahead of US CPI inflation release
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