Gold pulls back from two-month high as traders await US PPI
Gold came under selling pressure on Thursday, erasing the prior day’s gains after touching a fresh two-month high of $4,449 in Asian trading.
XAUUSD
Gold (XAU/USD) retreated on Thursday, giving back all of the previous day’s gains after reaching a fresh two-month high of $4,449 during Asian trading hours. At the time of writing, the precious metal was trading around $4,386, down 0.52%.
The pullback comes as traders look ahead to the US Producer Price Index release, which may shape near-term expectations for the dollar and interest rates.
Source: FXStreet Forex News