TechFlow News, June 20: Market analysts say gold is expected to trade sideways next week as investors await the release of the U.S. core Personal Consumption Expenditures (core PCE) Price Index for clues on the Federal Reserve’s interest rate path.
Stephen Innes, Managing Partner at SPI Asset Management, stated: “With the Fed now appearing more adaptive to evolving conditions and increasingly sensitive to upcoming inflation data, every major economic release will have an impact—but the core PCE will be the pivotal event for both gold and interest-rate markets, making next week highly data-dependent.”
Innes added that stronger-than-expected inflation readings could boost the U.S. dollar, push yields higher, and increase the risk of gold testing the $4,000-per-ounce level. Gold investors should prepare for heightened volatility and guard against further downside pressure. (Jinshi)
