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May 28, 2021 15:41 GMTFXStreet News Gold remains on the back foot for third consecutive day, refreshes intraday low of late. Comments from US President Biden, Treasury Secretary Yellen renew US dollar demand. Quiet session in Asia, pre-data/event cautious sentiment adds downside pressure on gold prices. US Core PCE Price Index, stimulus news should be observed for fresh impetus. Update: Gold reversed an early North American session dip to the $1,882 area and refreshed daily tops in the last hour. The downtick followed the release of stronger PCE Price Index data, which showed that the Fed’s preferred inflation gauge (Core PCE Price Index) jumped 3.1% YoY in April. The reading marked the highest level since 1994 and validated the higher inflation narrative. ....
After surging to its highest level since January earlier this week, gold suffered a slight pullback at resistance around $1,920. Alongside technical barriers, a slight rise in Treasury yields may h. ....
Gold Price Outlook: XAU Strength Likely to Continue on Dovish Fed, PCE in Focus dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
Gold has rallied to the topside of its downtrend and white-hot inflation data could help spur the precious yellow metal higher. Can gold stage a breakout to snap its 8-month downtrend? ....