Gold trims part of its modest intraday gains, albeit it retains a positive bias and trades above the $4,800 mark through the first half of the European session. Despite hopes for Iran diplomacy, the instability in the Strait of Hormuz offers some support to the safe-haven US Dollar, which turns out to be a key factor acting as a headwind for the commodity.
Source: https://www.fxstreet.com/news/eurozone-harmonized-index-of-consumer-prices-mom-above-forecasts-12-in-march-actual-13-202604160900
