Gold prices trimmed their intraday gains on Thursday, staying above the $2,500 mark, following the release of the U.S. Consumer Price Index (CPI) data. The report suggested persistent inflation, reducing expectations for a larger rate cut by the Federal Reserve. As a result, U.S. Treasury yields and the US Dollar strengthened, capping gold’s upward momentum.
The Fed is now expected to lower rates by 25 basis points at its upcoming meetings, offering some support to the yellow metal. However, positive market sentiment and strong equity markets have limited gold’s advance. Traders are awaiting the U.S. Producer Price Index (PPI) for further cues.
Technically, gold faces resistance near $2,530-2,532, with support around $2,470. A break above could trigger fresh buying, while a drop below $2,500 could lead to further declines.


