Gold Falls 0.9% as US Inflation Rises

Gold prices fell 0.9% to $4,652.46/oz as a stronger dollar and hot US inflation/retail data pressured the metal.
US April retail sales rose 0.5% MoM, CPI and PPI remained elevated, boosting expectations of further Fed rate hikes.
President Trump’s China visit sparked talk of trade progress, AI chip clearance for Chinese firms, and a Boeing order for 200 planes.
Oil prices stay high amid Iran conflict, with 30 ships allowed through Hormuz, keeping inflationary pressure on global markets.