Gold Forecast: Geopolitical tensions help XAU/USD limit its losses ahead of PCE week

📆 6/21/2024 5:53 PM
📰 FXStreetNews

⏱ Reading Time:
16 sec. here
6 min. at publisher
📊 Quality Score:
News: 24%
Publisher: 72%

Gold News

XAUUSD,Metals,Technical Analysis

After a calm start to the week, Gold (XAU/USD) broke out of its tight trading range on Thursday and climbed to a two-week-high above $2,360.

Gold gathered bullish momentum but erased its weekly gains heading into the weekend. The near-term technical is yet to highlight a buildup of bullish momentum. Investors will keep a close eye on geopolitics and US data next week. After a calm start to the week, Gold broke out of its tight trading range on Thursday and climbed to a two-week-high above $2,360. The persistent USD strength ahead of the weekend, however, caused the pair to erase its gains.

policymakers use the annual Core PCE Price Index, which excludes volatile food and energy prices, as their primary gauge of inflation. A stronger-than-expected reading could help the USD outperform its rivals as it would hint at a possible hawkish shift in the Fed’s forward guidance and vice versa.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold Price Forecast: XAU/USD holds below $2,350, geopolitical risks remain in focusGold price (XAU/USD) edges lower to $2,325 on Monday during the early Asian trading hours.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Gold Price Forecast: XAU/USD in a consolidative phase ahead of PCE inflationSpot Gold is little changed on Thursday, trading around its daily opening in the $2,340 price zone.
Source: FXStreetNews - 🏆 14. / 72 Read more »