XAU Continues strong upward momentumWorld gold prices increased slightly today as investors waited for the US to announce inflation data in the next few days to predict when to cut interest rates.
The information that may surprise the gold market in the next few days is the US core personal consumption expenditures index (PCE) - an important inflation measure of the US Federal Reserve (FED).
The dollar slid to its lowest in more than a week, making gold cheaper for holders of other currencies.
Gold prices in Asian markets almost went sideways during the trading session on May 28, when the USD weakened. Meanwhile, investors are waiting for important US inflation data to give clues about when the US Federal Reserve (Fed) will cut interest rates.
“The outlook for a stronger USD is supported by a change in the US monetary policy stance, as the Fed begins to look for evidence to raise interest rates instead of easing monetary policy which could be a risk. big for the gold market.
