Market Analysis: Gold Edges Higher but Remains Under Pressure from Inflation Concerns

Odaily reports that gold prices are currently holding above $4,700 per ounce. However, following the latest U.S. inflation data, market expectations for interest rates to remain "higher for longer" continue to weigh on the price of gold. Soojin Kim, an analyst at Mitsubishi UFJ, pointed out: "After U.S. wholesale inflation in April accelerated to its fastest pace since 2022, gold prices faced further pressure. Meanwhile, U.S. Treasury yields have climbed to near their highest levels since July, putting additional pressure on non-yielding assets like gold." (Jinshi)