Gold (XAU/USD) is trading on a modest positive note on Friday after a sharp sell-off earlier this week. However, upside attempts remain limited as investors gear up for the release of the US Personal Consumption Expenditures (PCE) Price Index.
On Thursday, an upward revision to the US Gross Domestic Product (GDP) in the third quarter, and lower-than-expected Jobless Claims have supported the Federal Reserve's (Fed) hawkish stance for 2025.
This has kept the US Dollar index stuck near a two-year high ahead of the release of the Fed's favorite inflation gauge.
Investors are waiting to see if the US central bank's concerns about higher inflation are justified. A strong reading would cast further doubt on the Fed's easing cycle and add downside pressure on Gold.
Source: FXStreet
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