Spot Gold peaked at $2,341.51 on Wednesday, as the US Dollar fell following the release of the United States (US) Consumer Price Index (CPI).
XAU/USD Current price: $2,337.15 The US Consumer Price Index eased by more than anticipated in May. Eyes turn to the Fed eral Reserve and Chairman Jerome Powell. XAU/USD advances modestly in a risk-on scenario, support at $2,330. Spot Gold peaked at $2,341.51 on Wednesday, as the US Dollar fell following the release of the United States Consumer Price Index .
Following the release of US inflation-related figures, markets rushed to price in a 63% chance of a rate cut by September, up from roughly 47% before the event. Chairman Jerome Powell will conduct a press conference following the announcement and may shed light on whatever policymakers plan for the near future of monetary policy. XAU/USD short-term technical outlook The daily chart for the XAU/USD pair is up for a third consecutive session, although gains are modest.
XAUUSD Recommended Fed Inflation
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