Gold retreats from 5-week high after CPI data shows inflation eased again in February

Gold prices retreated on Tuesday from a five-week high as Treasury yields and the dollar jumped after three days of sharp falls, while traders digested the release of the U.S. inflation report which shows pressure on prices continued to cool in February.

Price action

Market drivers

Gold pulled back on Tuesday as safe-haven demand for the yellow metal cooled after U.S. authorities intervened Sunday to quell fears about regional bank viability.

“Gold was…