Gold Set for Volatile Test on PCE Inflation Data Release
The gold market is bracing for a potentially volatile test on Wednesday, September 30, when the US releases its PCE inflation data. This key reading will set the tone for rate expectations into year-end and could spark noticeable fluctuations in the market.
The metal entered this pivotal moment with unsteady footing, having shed 2.1% over the past seven days to close at $4,288.69 per troy ounce on Friday. The decline was largely attributed to hawkish commentary from Fed officials, which prompted traders to price in additional rate hikes.
Despite this, institutional demand remains strong, with central banks buying gold at a record clip. According to the World Gold Council, they snapped up 288.9 tonnes of gold in the second quarter of 2026, with Poland leading the buyers and China adding 33 tonnes to its reserves.