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Both of the latter moving higher can be detrimental to the yellow metal, so Thursday’s price action might have been a recalibration of the outlook for monetary policy.
Louis Fed President James Bullard spoke over the past 24 hours, saying that it is still ‘too early’ to talk about tapering bond purchases.
Wholesale inflation crossed the wires higher-than-anticipated on Thursday, but failed to translate into a reaction similar to the CPI data.
Most Asia-Pacific stock market benchmarks traded in the green on Friday, opening the door to a rosy day for risk appetite heading into the weekend.
Rising support from the end of March seems to be keeping the focus tilted higher.
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