GOLD WAS SUPPORTED LAST LATE 🥇 Gold was supported late last week by the release of Core PCE data from the US showing a slowdown in inflation. This eased concerns that the Fed could keep interest rates higher for a longer period of time, supporting gold prices. However, the upside momentum was limited as the Fed earlier signaled a more cautious stance on rate cuts next year under President Trump.
Gold broke above its recent high around 2626 to extend its rally to 2632 late last week, but failed to hold above this level and is now falling.
