Spot Gold keeps trading within familiar levels, confined to a horizontal channel defined by the all-time high at $2,513.99 and the low posted this week at $2,493.49.
XAU/USD Current price: $2,527.99 Upbeat United States Gross Domestic Product figures undermine the market mood. Investors await US PCE inflation figures, the Federal Reserve's favorite inflation gauge. XAU/USD resumed its advance and aims to extend gains beyond the $2,531.60 record high. XAU/USD is finding buyers on dips and currently stands at $2,528, as the upbeat tone of Wall Street weighs on the US Dollar.
The recovery began during European trading hours, extending into the American session. Investors are now waiting for US inflation-related data. The country will publish the July Personal Consumption Expenditures Price Index, which is expected to have increased by 0.2% MoM y and 2.6% YoY, ticking higher from June figures.
Gold Recommended Inflation Growth
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