ANZ Bank: Gold prices rising in the market waiting for US CPI data

On May 8th, Jinshi Futures reported that gold prices have shown a basic upward trend in recent weeks, as investors have increased their holdings of safe haven assets due to concerns about the US economy. The United States will release its inflation data later this week, which will be the key to the direction of gold prices. Analysts from ANZ Bank stated in a report that concerns about factors such as renewed pressure on the US banking industry, slowing economic growth, and intensifying geopolitical tensions all bode well for gold investment demand. In addition, US inflation data will affect the views of Federal Reserve officials on interest rates, which may also become a key driving factor for gold prices.