Gold trades modestly higher on the day above $4,700 after having touched a fresh 10-day low below $4,660 earlier in the day, but looks to end the week in negative territory. Intensifying US-Iran tensions over the Strait of Hormuz and the lack of progress in peace talks keep investors on edge. Moreover, reviving inflationary fears temper expectations for a more dovish US Federal Reserve and underpin the US Dollar, which is seen weighing on the yellow metal.
Source: https://www.fxstreet.com/news/united-states-uom-1-year-consumer-inflation-expectations-came-in-at-47-below-expectations-48-in-april-202604241400
