Gold Firms Slightly, Silver Rebounds Ahead of CPI Data

Gold prices rose 0.20% to $4,338.80 per ounce and silver gained 0.44% to $68.475 in early Tuesday trading. This occurred amid falling oil prices and rising equity futures ahead of the May CPI report.

Macro conditions stay challenging after strong jobs data, with 10-year Treasury yields above 4.5% and the dollar index near a two-month high. Rate-hike expectations have increased before Wednesday's inflation release.

US-Iran tensions are viewed as contained, causing Brent to drop to $93. Equity futures point higher, especially in tech, while gold gets only partial support as rates and the dollar dominate.

Technically, gold must break above the $4,437-$4,481 zone to target $4,595. Silver aims above $71.84 but risks dropping below the 200-day average at $67.92.