Forex
Gold Price Tumbles Near $4,620 as Markets Await Crucial US Inflation Data
The gold price has pulled back to near $4,620 as investors await the release of the US Personal Consumption Expenditures (PCE) Price Index.
The PCE inflation report is critical for gold traders because it directly influences Federal Reserve interest rate decisions.
Higher inflation may lead to higher rates, which reduces gold's appeal, while lower inflation may prompt rate cuts, supporting gold prices.