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Gold Price Forecast: Bullish Surge as US Inflation Softens and Rate Cut Hopes Rise

The GOLD  ,market (XAU/USD) has maintained its bullish momentum, consistently trading above $2,050. Recent data from the US Bureau of Economic Analysis, which showed a less pronounced rise in the core Personal Consumption Expenditure (PCE) price index for November, are largely responsible for this positive trend. The monthly core PCE index reported a modest increase of…

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Gold Prices Set for Continued Volatility as Global Risks and Economic Data Dominate

Market update: gold price – lining up for a year-end rally if US inflation cooperates?

The latest US inflation will steer gold going into 2024. Gold continues to test resistance, 20-dsma acting as near-term support. The technical outlook for gold is looking increasingly positive as we near the last major data event of 2023, the Fed’s preferred measure of inflation, Core PCE. This Friday’s release is expected to show the November Core…

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