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Gold Prices Continue Correction, Investors Await US Inflation Data Release

Gold Prices Continue Correction, Investors Await US Inflation Data Release

andrianus.my.id - Gold prices continued their correction on Thursday (10/11) morning trading. At 7:17 a.m. WIB, the price of gold for delivery in December 2022 on the Commodity Exchange was at US$ 1,708.80 per troy ounce, down from the previous day at US$ 1,713.70 per troy ounce.

Gold prices corrected due to the lawsuit of the US dollar, while traders began to turn their attention to the US inflation report to be released on Thursday (10/11) local time.

This inflation report will be a clear clue about the path of interest rate hikes by the US central bank in the future.

"Gold is holding back its recent sharp gains as short-term traders see more of the upside if we can break a key technical level near the market," said Tai Wong, a senior trader at Heraeus Precious Metals in New York.

"Sentiment may be strong enough to push (gold prices) higher than it is now, unless inflation is really dire."

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