Gold (XAU/USD) strengthened slightly on Friday (December 5th) as the latest US economic data reinforced expectations of a Federal Reserve interest rate cut next week. Steady PCE inflation and easing consumer inflation expectations kept the policy outlook dovish.
At the time of writing, XAU/USD was trading near $4,245, keeping the precious metal on track for a modest weekly gain.
The pending US Personal Consumption Expenditures (PCE) report for September offered no surprises. Core PCE, the Fed's preferred gauge, rose 0.2% month-on-month, in line with expectations, while the annual rate fell to 2.8% from 2.9%.
Core PCE remained steady at 0.3% month-on-month, in line with expectations and unchanged from the previous month. On an annual basis, the Index was at 2.8%, in line with expectations and slightly above the 2.7% recorded in August. (alg)
Source: FXstreet
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