Gold prices are trading in today’s European session above 2380 levels.
Gold futures remained largely unchanged at $2,385, consolidating the gains achieved following Wednesday's U.S. inflation report.
The precious metal has advanced following the release of the Consumer Price Index dataset, indicating a slight easing of inflation in April as anticipated, which has provided support for gold.
Following a brief pause in momentum over the past fortnight, gold's upward trajectory has resumed, with a 13% increase recorded thus far this year. This comes despite the prevailing environment of prolonged higher interest rates and a robust U.S. dollar, typically indicative of declining gold prices.
