Spot Gold is under selling pressure mid-American session, pressuring an intraday low of $2,334.34 a troy ounce.
XAU/USD Current price: $2,340.30 Fed eral Reserve officials' words cooled hopes for a September interest rate cut. Treasury yields surged to fresh one-month highs, underpinning US Dollar demand. XAU/USD gains downward traction and approaches a relevant support level at $2,325.30. The US Dollar gathered near-term strength at the beginning of the day, giving up gains during European trading hours.
98%, the highest in a month and close to the critical 5.0% threshold. Data has been scarce, with investors waiting for the US Personal Consumption Expenditures Price Index figures to be released on Friday. The Fed's favorite inflation gauge is expected to show price pressures remained above the central bank's goal in April, following an uptick in the previous three months.
Gold Recommended Fed Inflation
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