Gold Prices Await PCE Data, Fed Rate Cut Speculation
Update: 2025-11-24
Description
Gold prices held steady as investors anticipated new economic data, which could influence the Federal Reserves interest rate decisions. Spot gold remained at $2,322.39 per ounce, while US gold futures slightly increased by 0.1% to $2,334.30. Experts predict gold will likely stay within a narrow range until the upcoming economic news, particularly the US Personal Consumption Expenditures (PCE) report. A lower PCE number could boost gold prices, while a stronger report might cause a drop towards $2,280. This weeks data releases include the PCE price index and speeches from several Federal Reserve officials, which could provide insights into future policy. The market currently estimates a 50% chance of a Fed rate cut in September, making the upcoming economic figures crucial in confirming or changing this expectation. In other precious metals, silver dipped by 0.2% to $30.52, platinum fell by 0.3% to $1,024.55, and palladium edged lower by 0.1% to $939.72.
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