H1 GOLD ANALYSIS

Gold prices recovered on Wednesday after a pullback to the $2,150.00 region, and traders seem convinced that the US Federal Reserve (Fed) could cut borrowing costs. Nevertheless, the latest hotter-than-expected inflation report in the United States might deter Fed officials from easing policy in June, contradicting market participants' speculation. Therefore, the XAU/USD trades at $2,173.60, gaining 0.7%.

The latest US economic data suggests the economy remains robust, even though the labor market is cooling. Nevertheless, headline and underlying inflation remaining above 3.2% in the twelve months to February might push back some Fed officials’ intentions to cut borrowing costs.

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