With outside market action remaining in favor of the bear camp early today, the bull camp remains hopeful that this week's inflation data will further revive the prospect of a US rate cut, which in turn would continue to pressure the dollar and treasury yields lower.
However, the gold market is vulnerable this morning following comments from the Indian Bullion and Jewelers Association suggesting Indian wedding season demand will soften due to record pricing.
Along those lines, the domestic Indian gold trade has seen prices shift into a discount relative to global markets, with Chinese premiums narrowing...[MORE]
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