Surprisingly, the #gold market has remained lower this morning despite a softer-than-expected set of inflation readings from the UK. In our opinion, the data was not enough to discourage the Bank of England from hiking rates tomorrow, but the UK economy has created some doubt.

However, recently the gold market has been very sensitive to action in the #dollar, and with gold trading lower today with a setback in the dollar, the bull camp has stepped back.

Certainly, the aggressive recovery in the dollar yesterday has rattled some would-be buyers, especially if the US #Fed surprises and decides to hike today...[MORE]

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