Gold Retreats From Three-Month High To Near $4,600 After US PCE Data
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Gold Price Forecast: XAU/USD hits lows sub-$4,600 as US inflation supports the Greenback
Gold (XAU/USD) is giving away the mild recovery seen during Thursday’s Asian session and pulls back below $4,600 during the European morning, as the US Dollar Index (DXY) consolidates above 99.00. A cautious market sentiment ahead of the Jackson Hole symposium and the hot US inflation figures seen on Wednesday have provided some support to the US Dollar and are keeping precious metals’ rallies limited. US data released on Wednesday revealed that…
Gold drops amid stronger dollar
Spot gold was down 1.4% to $4,594.36/oz, while gold futures slid 1% to $4,648.26/oz Gold prices slipped on Wednesday, pressured by a stronger dollar after mixed inflation data for July kept precious metal market participants uncertain about the U.S. central bank’s monetary policy outlook. At 20:00 GMT, spot gold was down 1.4% to $4,594.36/oz, while gold futures slid 1% to $4,648.26/oz. The U.S. economic calendar was the highlight of the day. As …
Gold Retreats From Three-Month High To Near $4,600 After US PCE Data
BitcoinWorld Gold Retreats From Three-Month High to Near $4,600 After US PCE Data Gold prices pulled back from a three-month high on Friday, trading near $4,600 per ounce, as investors digested the latest US Personal Consumption Expenditures (PCE) price index data, which came in line with expectations but offered few surprises for the Federal Reserve’s policy path. Market Reaction to PCE Data The PCE index, the Fed’s preferred inflation gauge, …
Gold was pressed this Wednesday after the last US PCE inflation report backed the dollar and Treasury bond yields. The overall CPE increased by 0.2% per month, slightly above expectations, while the annual rate remained at 3.7%, also marginally above forecasts. According to a market analysis by Thadeu Dos Santos, Regional Director of Infinox, the underlying PCE advanced 0.2% per month and 3.3% per year, overall in line with expectations.
Gold slips below $4,600 as yields, dollar firm after PCE - Kitco PM Report
(Kitco NewsWire) - Spot gold and silver prices are lower in late-afternoon U.S. trading Wednesday, after hotter-than-expected PCE inflation lifted Treasury yields, firmed the U.S. dollar and forced profit-taking across precious metals ahead of Nvidia earnings and Friday’s Jackson Hole speech. At the time of writing, spot gold was trading near $4,591.70 an ounce, down 1.42%, while spot silver was trading at $68.000, down 0.78% on the session.Nort…
Gold Remains on Its Pedestal: All Eyes on PCE - ActionForex
Gold traded around 4,650 USD per ounce on Wednesday, remaining near three-month highs. Investors are awaiting the latest PCE data – the Federal Reserve’s preferred measure of inflation. Attention is also gradually shifting to Fed Chair Kevin Warsh’s speech at the annual Jackson Hole Symposium on Friday. However, markets do not expect him to provide […] The post Gold Remains on Its Pedestal: All Eyes on PCE appeared first on ActionForex.
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