Gold price consolidates Thursday’s two-way price action ahead of US PCE inflation on Friday. US Dollar licks wound alongside US Treasury bond yields amid improving market mood. Gold price confirmed a Bull Flag on the daily chart, with RSI still pointing to more gains. ention, strong United States Gross Domestic Product data, lingering Middle East concerns and upbeat Amazon.com Inc earnings, as the focus shifts to the US inflation data.
The broader sentiment, geopolitical updates, end-of-the-week flows and the bond market action will be key to the Gold price direction. Markets are likely to pay limited attention to the US Personal Consumption Expenditures - Price Index, as Thursday’s US Q3 GDP report already included quarterly PCE inflation figures. The US GDP rose at a 4.9% annualized pace in the third quarter, ahead of the 4.2% estimate.
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Source: FXStreetNews - 🏆 14. / 72 Read more »