Gold Price Forecast: US August PCE Imminent, Will Gold Prices Rise or Fall Short-Term?
TradingKey·- Gold prices recovered to trade near 4,195 USD following an earlier decline to a nearly seven-week low of 4,110 USD. - Market focus shifts to the upcoming US August PCE inflation data to gauge the Federal Reserve's subsequent rate hike path. - Lower-than-expected PCE figures could fuel gold's recovery, whereas higher-than-expected data might trigger renewed downside risks.