With China’s headline inflation data comprising the Consumer Price Index (CPI) and Producer Price Index (PPI) scheduled for release on the calendar, the Asian trading for the Gold Price may become entertaining. That said, the CPI is likely to suggest deflation in one of the world’s biggest XAU/USD consumers while posting -0.4% YoY figures versus 0.0% prior whereas the PPI is expected likely to improve to -4.1% YoY from -5.4% prior.
Given the likely weaker inflation data from China, the Gold Price may witness further downside on the price pressures matching the forecasts. Even so, improvement in the market’s sentiment may allow the Gold bears to take a breather at the key support line.
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