Gold prices are rising, and traders are waiting for the US inflation data to be released later this week to find clues about the direction of the Federal Reserve's interest rate. Gold rose as high as 0.7%, hitting 4,200 US dollars per ounce. Swap traders think the probability of interest rate hikes at this month's Federal Reserve meeting is low. Since the outbreak of the US-Iran conflict in late February, the trend of precious metals has basically diverged from crude oil. The interruption in energy supply in the region has triggered global inflation and the tightening of monetary policies by central banks.

Gold prices are rising, and traders are waiting for the US inflation data to be released later this week to find clues about the direction of the Federal Reserve's interest rate. Gold rose as high as 0.7%, hitting 4,200 US dollars per ounce. Swap traders think the probability of interest rate hikes at this month's Federal Reserve meeting is low. Since the outbreak of the US-Iran conflict in late February, the trend of precious metals has basically diverged from crude oil. The interruption in energy supply in the region has triggered global inflation and the tightening of monetary policies by central banks.