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Rabobank strategists assess how the US and Israel’s war against Iran could affect China. They note higher Oil and gas prices and global cost-push inflation, but argues China’s inflation is unlikely to force PBOC tightening.

Silver price advances more than 2.50% on Friday, set to end the week with gains of over 7% sponsored by US Dollar weakness and falling oil prices. At the time of writing, the XAG/USD trades at $80.72, after bouncing off daily lows of $78.16.

Wells Fargo Economics projects Brazil’s April IPCA inflation to rise 0.9% month-over-month and around 4.5% year-over-year, near or above the target band. Energy and food pressures are intensifying, while inflation expectations have risen.

Indian investors continue to pile up their bets on Gold via Exchange Traded Funds (ETFs), contributing to the rebound in demand for the precious metal as spot prices stabilize after March’s sharp decline.

WTI, the US crude oil benchmark, falls some 2.49%, poised to end the week with losses of over 7.39%, amid growing speculation that the US and Iran will reach an agreement to end the conflict.

ING’s Peter Virovacz notes that Hungary’s inflation accelerated in April but remained a positive surprise versus expectations, with headline Consumer Price Index (CPI) at 2.1% year-on-year and 0.4% month-on-month.

DBS Group Research economist Radhika Rao assesses how a projected below normal monsoon in India, linked to a strong El Niño, could affect growth and inflation.

Gold (XAU/USD) rises some 0.75% on Friday as financial markets remain optimistic about a possible end to the Middle East conflict, which could potentially drive Oil prices lower and ease inflationary pressures.

Wells Fargo Economics expects April U.S. CPI to firm, with headline inflation rising toward 3.8% year-over-year and core near 2.9%.