Inflation Concerns Keep Gold Trading in a Tight Range
Gold bulls were hesitant to enter large positions as market fundamentals offered mixed signals on Friday during the Asian trading session. Of particular concern was data revealing sticky inflation and the risk to economic growth resulting from elevated oil prices on global markets. The precious metal was trading in the $4,640–$4,650 range as traders felt reluctant to make strong moves in either direction due to the uncertain bigger picture. On the one hand, Trump’s decision to sustain the Iranian port blockade in a bid to pressure Tehran into agreeing to address Washington’s concerns about its nuclear program removed any suggestion…