Gold (XAUUSD) Shows Sideways Movement After US PCE Inflation Data Misses Estimates

Friday, 30 August 2024, 06:06

Gold (XAUUSD) remains rangebound following the release of US PCE inflation data that missed estimates. The sideways trend indicates potential stability. Traders are closely monitoring technical and fundamental analysis for fresh signals.
Fxstreet
Gold (XAUUSD) Shows Sideways Movement After US PCE Inflation Data Misses Estimates

Rangebound Movement in Gold (XAUUSD)

Gold prices (XAUUSD) have been trading within a confined range following the recent disclosure of US PCE inflation data, which missed market expectations. As the gold market reacts, it appears that the trend may be better described as sideways.

Technical Analysis Overview

  • The technical indicators are currently showing limited volatility.
  • Resistance and support levels are drawing attention among traders.

Fundamental Analysis Insights

  • Recent economic data has influenced market expectations on inflation.
  • Continued analysis is essential for evaluating potential market shifts.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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