Gold Gains as US Dollar Weakens Amid Cooling Inflation
TL;DR Summary
The US dollar weakened slightly after the latest PCE data showed monthly inflation cooling, while gold gained momentum. Both Core and Headline y/y PCE figures met expectations, but the m/m Core reading was slightly below forecasts. The US dollar index fell but remains supported by technical levels, while gold rose by 0.50% and is approaching near-term resistance.
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