Commodities
Gold Prices Stabilize Amid Ongoing Volatility Ahead of Crucial Inflation Data
Gold prices have been under pressure from higher US interest rates and a stronger dollar, but persistent buying around $4,200-$4,300 suggests sellers may not yet be in control.
The upcoming release of US PCE inflation data on September 30 will be crucial for determining gold's next direction, as markets reassess the Federal Reserve's policy move. A stronger-than-expected reading could reinforce expectations for additional monetary tightening and further pressure on bullion prices.
Despite geopolitical risks providing some support for gold, higher rates may limit significant rallies in the metal. Buyers are defending the key $4,200-$4,300 support zone, but a decisive break below this area would expose gold to deeper downside risk.