Gold holding ground near record levels as softer-than-anticipated US inflation readings fuel bets on additional Fed rate cuts. The weaker inflation print has traders rethinking the path forward for monetary policy, creating tailwinds for non-yielding assets. Meanwhile, geopolitical risks remain on the boil, adding to safe-haven demand. The interplay between easing monetary conditions and persistent global tensions continues to shape trading momentum across commodities and risk assets alike.

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