Gold pushes higher as dollar sinks near 101 mark

Published on Apr 13, 2023 12:01

COMEX gold climbed on Thursday, benefitting from a pull back in dollar index, further below 102 mark amid softer inflation data from the US that increased possibility of a rate hike pause by Fed. The headline inflation in the US eased to 5%, while the monthly rate increased by 0.1% below market expectations. Meanwhile, the minutes of the March 21-22 meeting, released Wednesday afternoon, showed some participants considered leaving rates unchanged to allow more time to assess the effects of the banking sector turmoil. The dollar index held on to its losses at 101.24 in early Asia while COMEX gold was quoting at $2030.10 an ounce, up 0.26% on the day.