Gold prices were little changed by the end of Thursday’s trading session, but the yellow metal extend its recent losing streak during Friday’s Asia-Pacific trading session. The anti-fiat yellow metal is now on course to sink over 2 percent this week. In fact, the 5.25% drop so far in February is shaping up to be the worst month since June 2021.
This week in particular, prices have been wobbly since the aftermath of Tuesday’s US inflation report. For January, the country saw unexpectedly higher CPI data, opening the door to a still-hawkish Federal Reserve. The reason why this matters is that markets have been slowly unwinding expectations of a rate cut pivot towards the end of this year.
