Australia's #CPI came in at 3.8%, below the 4.0% forecast, giving Gold a short-term boost as softer inflation can weigh on the U.S. Dollar.
However, a sharp sell-off in South Korean chip stocks increased demand for safe-haven assets, providing support to the Dollar.
Gold still managed to climb from $4,031.10 to $4,034.10, showing that short-term buyers are defending prices despite the broader bearish outlook.
The market still lacks a clear direction.
With the FOMC decision at 18:00 UTC, it's better to avoid new positions and focus on risk management. Expect higher volatility once the announcement is released.
However, a sharp sell-off in South Korean chip stocks increased demand for safe-haven assets, providing support to the Dollar.
Gold still managed to climb from $4,031.10 to $4,034.10, showing that short-term buyers are defending prices despite the broader bearish outlook.
The market still lacks a clear direction.
With the FOMC decision at 18:00 UTC, it's better to avoid new positions and focus on risk management. Expect higher volatility once the announcement is released.