Overview

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Hace 1 día The PCE data, due at GMT, is forecast to show a 2.2% rise in April, slightly lower than March’s 2.3% increase. Analysts suggest gold may not see a sharp reaction unless Hace 2 días Spot gold was up 0.2% at $3,296.63 an ounce, as of 1114 GMT, after hitting its lowest since May 20. U.S. gold futures were steady at $3,294.60. With the PCE data set released on Friday, gold prices may rebound from current levels, though the upside could remain limited. A stronger U.S. dollar and rising U.S. Hace 1 día Gold falls as the US dollar strengthens ahead of key US inflation data. Investors are cautious, watching the Personal Consumption Expenditures (PCE) index due today, which Hace 1 día Today, traders should focus on two US reports: the Personal Consumption Expenditures (PCE) Price Index at p.m. UTC and the University of Michigan (UoM) Gold ascended to a new one-month high amid positive PCE index projections. Per the new data, US personal consumption expenditure rose by 0.3%. Gold prices climb amid rising US real yields, which are up by three basis points to 2.248%, a headwind for the precious metal. The US 10-year Treasury bond yield Hace 3 días Gold prices rise as US-EU trade tensions ease, investors await US core PCE data for interest rate clues. Spot gold was up 0.3% at $3,308.99 an ounce For a better experience

Gold Ascends as US Dollar Dips: PCE Data Shows Positive Uptick

Gold prices are showing strength as the US dollar weakens, driven by anticipation surrounding the latest Personal Consumption Expenditures (PCE) data. Investors are closely monitoring the PCE Price Index, a key indicator of inflation, for clues regarding future interest rate policy. Recent data indicates a positive uptick in US personal consumption expenditure, rising by 0.3%, contributing to gold's bullish momentum.

Current Gold Market Overview:

Spot gold was recently trading up 0.2% at $3,296.63 an ounce (Hace 2 días), after briefly hitting its lowest level since May 20. U.S. gold futures were steady at $3,294.60. The market's reaction to the PCE data will be crucial in determining gold's next move. Analysts suggest that gold may not see a sharp reaction unless there is a significant deviation from the forecast (Hace 1 día).

PCE Data Forecast & Impact:

The PCE data, due at GMT, is forecast to show a 2.2% rise in April, slightly lower than March’s 2.3% increase (Hace 1 día). Traders should particularly focus on the Personal Consumption Expenditures (PCE) Price Index and the University of Michigan (UoM) consumer sentiment data being released. While a lower-than-expected PCE reading could further weaken the dollar and boost gold, a stronger reading could have the opposite effect.

US Dollar Strength & Treasury Yields:

Gold's performance is intricately linked to the strength of the US dollar. Recently, gold fell as the US dollar strengthened ahead of key US inflation data (Hace 1 día). However, the current dip in the dollar is providing a tailwind for gold. Furthermore, rising US real yields, currently up by three basis points to 2.248%, typically present a headwind for the precious metal. The US 10-year Treasury bond yield is another factor to watch closely.

Additional Market Factors:

Easing US-EU trade tensions are also contributing to the positive sentiment surrounding gold (Hace 3 días). Investors are keen to discern interest rate clues from the US core PCE data. With the PCE data set to release, gold prices may rebound from current levels, though the upside could remain limited.

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