$Gold - main 2606(GCmain)$$XAU/USD(XAUUSD.FOREX)$The gold market experienced significant volatility on Tuesday (May 12). Spot gold initially surged to a three-week high of $4773.37 in early trading, before weakening and hitting a low of around $4638.40 after the release of strong US CPI data, ultimately closing at $4715.07, down approximately 0.4%.
US gold futures fell 0.9% to $4686.70. While this appears to be a short-term correction, it actually reflects the combined pressures of soaring oil prices, persistent inflation, and interest rate expectations, which are reshaping the investment logic for gold.
On Wednesday (May 13), spot gold traded in a narrow range in early Asian trading, currently hovering around $4720.
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