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FX Desk

Gold can’t catch a PCE break as long US yields keep climbing

By FXStreet

Gold can’t catch a PCE break as long US yields keep climbing

Gold prices (XAU/USD) retreated on Wednesday, down 0.6%, after US inflation data came in above the Federal Reserve’s (Fed) 2% goal but below estimates, prompting investors to price in a less hawkish central bank than expected. The XAU/USD trades at $4,155 at the time of writing.

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Read also
  1. US Treasuries: Curve steepens with long yields at cycle highs – Deutsche Bank
  2. Fed’s Cook says inflation has stayed too high for too long
  3. Gold firms as softer US PCE inflation cools October Fed hike bets
  4. ECB’s Schnabel says yields surge could cool inflation pressures
  5. EUR/USD: Measured ECB tightening to support Euro – TD Securities

Source: FXStreet