Forex
Gold Price Surges Ahead of PCE Report and Jackson Hole
The gold price continues to move upward, reaching $4,641.19 at 05:13 GMT as traders await the release of the PCE report on Wednesday.
This week's first major risk event will provide insight into inflation and the annual rate, with economists expecting core PCE to rise 0.2% from the prior month and keep the yearly rate near 3.3%. Headline PCE is expected to rise 0.1%, putting the yearly rate near 3.6%.
The data will set the tone for Fed Chair Kevin Warsh's speech at the Jackson Hole Economic Policy Symposium on Friday, which may influence market positioning and trading activity.