Gold trades with caution below $4,800 in the Asian session on Friday, remains confined within the previous day’s broader range as traders turn cautious ahead of the US consumer inflation figures. In the meantime, the fragile US-Iran ceasefire and tensions around the Strait of Hormuz support Oil prices, fueling inflationary concerns and hawkish Fed expectations. This, in turn, acts as a tailwind for the US Dollar and exerts some pressure on the non-yielding bullion.
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