Gold trades within familiar levels on Monday amid a scarce macroeconomic calendar and easing US Dollar demand.
XAU/USD Current price: $2,176.44 The US Dollar eased at the beginning of the week but retains its overall strength. Market players await a United States inflation update before taking firmer positions. XAU/USD turned neutral in the near term, bulls paused but retain control. XAU/USD currently hovers around $2,175, down from an intraday high of $2,180.52.
The focus this week will be on the United States March Personal Consumption Expenditures Price Index, the Federal Reserve's favourite inflation gauge. The core PCE Price Index is expected at 2.8% YoY, matching February's reading. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair shows that bulls retain control.
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