Core Viewpoint - International gold prices surged due to escalating geopolitical tensions and uncertainties surrounding the Trump administration's criminal investigation into Federal Reserve Chairman Jerome Powell, raising concerns about the Fed's independence and the long-term outlook for the dollar [1][8]. Price Movement - Gold opened at $4,516.02 per ounce, recorded a low of $4,512.88, and later reached a high of $4,629.86 before closing at $4,597.28, marking a daily increase of $87.33 or 1.94% from the previous close of $4,509.95 [3][10]. - The price volatility for the day was $119.91, indicating strong market activity [10]. Market Outlook - The gold market is expected to continue its upward trend, with a focus on buying on dips. The upcoming U.S. core CPI data is anticipated to influence gold prices, with expectations of a potential rise in inflation leading to increased gold demand [3][12]. - The market is currently predicting two or more rate cuts by the Federal Reserve later this year, which supports a bullish outlook for gold [5][12]. Technical Analysis - On a monthly basis, gold prices have shown strong performance, recovering from previous declines and breaking new highs, which suggests a potential bull market with expectations of prices reaching between $5,500 and $6,000 [5][12]. - Weekly trends indicate that gold has regained lost ground and is positioned above key moving averages, reinforcing a bullish outlook [7][14]. Support and Resistance Levels - Key support levels for gold are identified at $4,570 and $4,530, while resistance levels are noted at $4,640 and $4,675 [15]. - For silver, support is seen at $83.00 and $81.35, with resistance at $85.60 and $87.00 [15].

Core Viewpoint - The article discusses the expectations of various financial institutions regarding the U.S. April Core CPI year-on-year rate, which is anticipated to be around 2.8% [1] Summary by Institutions - **Predictions of Core CPI**: - Several institutions predict a Core CPI of 2.7%: Capital Economics, TD Securities [1] - A majority of banks forecast a Core CPI of 2.8%: - Dutch Bank, ANZ Bank, BNP Paribas, Barclays, Bank of America, Imperial Bank, Citibank, Danske Bank, Goldman Sachs, Nomura, Lloyds Bank, Canadian Imperial Bank, Societe Generale, Scotiabank, Morgan Stanley, Standard Chartered, Wells Fargo [1] - A few institutions predict a slightly higher Core CPI of 2.9%: - HSBC, Dutch International, JPMorgan, UBS [1]