Gold Prices Hold Steady Amid Market Pause and Inflation Concerns

Gold prices are slightly weaker due to profit-taking and chart consolidation after hitting a 13-month high. Silver prices are firmer and hit another 13-month high overnight. The U.S. data point of the day will be the March retail sales report. The International Energy Agency said global crude oil demand will outstrip supply this quarter. The gold and silver bulls will be looking to buy the dips. Technically, the gold futures bulls have the solid overall near-term technical advantage, while the silver bulls have the solid overall near-term technical advantage.