Gold remains below $5,000 as traders await US CPI for Fed rate cut cues

💡 DMK Insight

Gold’s struggle to breach the $5,000 mark is a key signal for traders right now. With ADA at $0.26, the correlation between gold and cryptocurrencies is worth noting, especially as inflation data looms. If inflation comes in higher than expected, we could see a flight to safety, boosting gold and potentially impacting ADA as investors reassess risk. Traders should keep an eye on the $5,000 resistance level for gold; a breakout could trigger a bullish sentiment across the board. Conversely, if inflation is lower, expect gold to retreat, which might lead to a dip in ADA as well. Watch for the inflation figures to drop soon, as they could dictate market movements. A strong inflation print could push gold above $5,000, while a weak one might see it retreat, impacting crypto sentiment too.