Gold price recovered after briefly dipping to $1,990 on Monday. Economists at ANZ Bank await the all-important United States Consumer Price Index and Retail Sales data to see if the yellow metal can enjoy further gains.

Weaker USD holds prices

“Weaker US Dollar and returning investment flows have been holding prices.”

“US CPI inflation and Retail Sales will be important for further upside move. US CPI data will provide a clearer indication of whether the Federal Reserve will lift rates further. At present a 25 bps increase is expected.”

See – US CPI: Banks Preview, inflation softening, good news on the horizon?