Gold Reclaims $5,000 as Cooling Inflation Boosts Fed Rate Cut Hopes

• Gold advanced as traders increased bets on Federal Reserve rate cuts following a mild inflation reading.
• US inflation was fairly mild at the start of the year, easing concerns and boosting expectations for Fed rate trims.
• The yield on 10-year Treasury pushed lower, with swap traders pricing in 50% odds of a third cut by December, benefiting non-yielding gold.
• Commodity strategist Ewa Manthey noted that bargain-hunting and position-adjustments are now supporting gold after a sharp liquidation.
• Spot gold climbed 2.2% to $5,031.52 an ounce; silver, platinum, and palladium also gained.