Gold (XAU/USD) edges lower into the $2,310s on Wednesday as investors mull comments from Federal Reserve (Fed) officials, who continue to appear reluctant to cut interest rates amid stubbornly high inflation.
Gold weakens after several Federal Reserve officials voice their reluctance to cut interest rates yet. The market continues to see a high probability of a cut in September, however. XAU/USD pulls back after a break higher invalidates orthodox H&S pattern. Gold edges lower into the $2,310s on Wednesday as investors mull comments from Federal Reserve officials, who continue to appear reluctant to cut interest rates amid stubbornly high inflation.
Of key interest to Gold traders will be the US Personal Consumption Expenditures Price Index for May out on Friday, the Federal Reserve’s preferred inflation gauge. A lower-than-expected result would increase the chances of the Fed going ahead with an early rate cut and support Gold price. The opposite would be the case if inflation rises.
XAUUSD Technical Analysis Fundamental Analysis SEO
Singapore Latest News, Singapore 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 comfortable above $2,330 as Fed loomsSpot Gold peaked at $2,341.51 on Wednesday, as the US Dollar fell following the release of the United States (US) Consumer Price Index (CPI).
Read more »
Gold Forecast: XAU/USD keeps sight on $2,277 and high-impact US CPI, FedGold price is consolidating the two-day upswing while defending the $2,300 level early Wednesday.
Read more »
Gold Price Forecast: XAU/USD holds below $2,300 as China stops buying gold, US Dollar reboundsGold price (XAU/USD) trims losses near $2,295 despite the stronger US Dollar (USD) on Monday during the early Asian session.
Read more »
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.
Read more »
Gold price posts modest gains on weaker US Dollar, investors await US key dataGold price (XAU/USD) edges higher on Tuesday after bouncing off two-week lows of $2,325.
Read more »
Gold Forecast: Downside appears more compelling for XAU/USDGold price is building on Tuesday’s decline, hitting a fresh weekly low near $2,310 in Asian trading on Wednesday.
Read more »