Ella 
Gold prices (XAU/USD) strengthened on Thursday amid a weaker U.S. dollar. The latest Consumer Price Index (CPI) report showed that U.S. inflation slowed in April, prompting market participants to increase their bets on the Federal Reserve cutting interest rates this year. Lower interest rates from the Federal Reserve could be good for gold because it means lower borrowing costs for investing in gold.
Gold traders will focus on Thursday on U.S. building permits, housing starts, U.S. jobless claims last week, the Philadelphia Fed manufacturing index and industrial production. In addition, Federal Reserve officials Barr, Harker, Mester and Bostic will also speak during the day. Nonetheless, hawkish comments from Federal Reserve officials could boost the U.S. dollar (USD) and limit gold’s upside in the short term.
