Gold declines to near $4,750 as oil-driven inflation worries weigh ahead of US CPI data

Gold price (XAU/USD) trades with mild losses near $4,760 during the early Asian session on Friday. The precious metal declines as market uncertainty persists regarding the fragility of the US-Iran ceasefire and reports of continued Middle East conflict, including the closure of the Strait of Hormuz. Gold price edges lower to around $4,760 in Friday’s early Asian session. Worries… Gold price (XAU/USD) trades with mild losses near $4,760 during the early Asian session on Friday. The precious metal declines as market uncertainty persists regarding the fragility of the US-Iran ceasefire and reports of continued Middle East conflict, including the closure of the Strait of Hormuz. Gold price edges lower to around $4,760 in Friday’s early Asian session. Worries that surging oil prices would create inflationary pressures and prevent central banks from cutting rates undermine the Gold price. The US March CPI report will take center stage on Friday.  Gold price (XAU/USD) trades with mild losses near $4,760 during the early Asian session on Friday. The precious metal declines as market uncertainty persists regarding the fragility of the US-Iran… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.