Gold trades in familiar range with attention shifting to delayed PCE data
Gold (XAU/USD) edges higher on Friday, oscillating within the familiar range that has defined price action this week, as dovish Federal Reserve (Fed) expectations keep the precious metal broadly supported.
At the time of writing, XAU/USD is hovering near $4,235, with investors turning their focus to the delayed US Personal Consumption Expenditures (PCE) inflation data due later in the day.
Markets will closely parse the PCE release as the final checkpoint ahead of next week’s Fed interest rate decision. Recent labour indicators have delivered mixed signals but have done little to shift expectations, with investors still largely convinced that the Fed is on track to deliver another interest rate cut.
In addition to PCE, the US docket includes Personal Income, Personal Spending and the preliminary University of Michigan consumer sentiment survey, accompanied by updates on 1-year and 5-year inflation expectations. Together, these releases will shape expectations for the Fed’s monetary policy path and could influence Gold’s near-term direction.
Source : Fxstreet.com
