Gold (XAU) Price Forecast: Will PCE Inflation Data Spark a Bullish or Bearish Breakout?
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Gold prices are influenced by a weaker dollar, but remain in a bearish trend below $2663. The upcoming Core PCE inflation data could determine whether gold experiences a bullish breakout or continues to decline.
November 27, 2024 | 12:45 pm
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NEUTRAL IMPACT
AAAU, a gold ETF, is affected by the current bearish trend in gold prices, which are below $2663. The upcoming Core PCE inflation data could influence AAAU's performance, potentially leading to a bullish breakout or further declines.
AAAU is directly tied to gold prices, which are currently in a bearish trend. The Core PCE inflation data is a significant economic indicator that could impact gold prices, and consequently, AAAU's performance. The uncertainty of the data's outcome results in a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80