Gold trims part of its modest intraday gains, albeit it retains a positive bias and trades above the $4,800 mark through the first half of the European session. Despite hopes for Iran diplomacy, the instability in the Strait of Hormuz offers some support to the safe-haven US Dollar, which turns out to be a key factor acting as a headwind for the commodity.
Source: https://www.fxstreet.com/news/italy-consumer-price-index-eu-norm-mom-came-in-at-17-above-forecasts-16-in-march-202604160801
