Gold price loses ground around $1,945 ahead of the US CPI data.
The geopolitical conflicts in the Middle East could boost safe-haven assets like gold.
The immediate resistance level is seen at $1,953; the initial support level will emerge at $1,934.
Gold price loses momentum during the early European session on Tuesday. Market players will closely monitor the highly-anticipated US Consumer Price Index (CPI) due later on Tuesday. The headline inflation measure is estimated to grow by 0.1% MoM and 3.3% YoY. The core inflation figures are forecasted to rise by 0.3% MoM and 4.1% YoY. gold price is trading around $1,945, losing 0.10% on the day.
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