Gold Edges Up, Trimming Some Recent Losses With US PCE Inflation on Focus

FXStreetDec 20 18:14

A major market trend is about to unfold! Be aware of the USA PCE inflation Indicators that could cause Gold prices to "change the game". Latest Trade analysis on Euro, British Pound, Japanese Yen, and Gold.

On Friday morning in the European market, the USD maintained a mild downward trend during the day, currently around 108.25; spot Gold maintained a strong rebound trend, with the current gold price at 2604 USD/ounce. Analysts pointed out that if the USA PCE inflation data, especially the core Indicators, exceeds expectations, the USD may strengthen, thereby impacting major non-USD currencies and causing the gold price to decline again.

FX168Dec 20 15:39

Gold prices have suddenly surged in the short term! The gold price just touched 2605 US dollars. With heavyweight data arriving, how to trade Gold?

On Friday afternoon in the Asian market, spot Gold suddenly surged rapidly in a short time, with the price reaching 2605 USD/ounce, an increase of over 10 USD for the day. FXStreet Analyst Haresh Menghani wrote that the Federal Reserve's hawkish stance is Bullish for the USD and may limit the rise in Gold prices. Traders are now looking to the USA PCE Price Index for new momentum.

FX168Dec 20 15:02

Gold Trade Reminder: The inflation indicators most favored by the Federal Reserve may ignite the market! Analysis of the technical outlook for Gold by FXStreet's Chief Analyst.

On Friday during Asian trading, spot Gold remained essentially stable, with the gold price currently around $2596 per ounce. FXStreet's chief Analyst Valeria Bednarik stated that the outlook for Gold remains bearish, with a price target below the low of $2580 per ounce.

FX168Dec 20 11:30

What exactly is going on?! Gold prices soared more than 30 dollars during the day as significant data from the USA is coming; how to trade Gold?

On Thursday morning in the European market, spot Gold continued its intraday rebound, with the current price around $2616 per ounce, a rise of over $30 for the day. FXStreet Senior Analyst Dhwani Mehta pointed out that after the Fed's hawkish interest rate cuts triggered a dramatic drop, Gold experienced a 'dead cat bounce.' However, from the daily Gold chart, the price may still face a 'Sell on the rebound' Trade.

FX168Dec 19 15:41

Gold prices have successfully reached the bearish target! Renowned Institutions: Unless this level is broken, gold prices may still have significant room for decline.

On Thursday afternoon in the Asian market, spot Gold continued its intraday rebound trend, with the gold price currently around $2609 per ounce; the previous trading day saw a drop of over 2% in gold prices. According to Economies.com, after yesterday's sharp decline, the gold price successfully reached the bearish target of $2600.00 per ounce. Unless it breaks through $2655.00 per ounce, the outlook for gold prices remains bearish.

FX168Dec 19 14:50