Gold price sees some selling pressure as annual PCE rises 2.8%
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Gold prices are experiencing selling pressure as the annual Personal Consumption Expenditures (PCE) index rises to 2.8%. This economic indicator is closely watched by investors as it can influence inflation expectations and monetary policy decisions.
November 27, 2024 | 3:30 pm
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AAAU, a gold-backed ETF, may see short-term price pressure due to the rise in the annual PCE index to 2.8%, which affects gold prices.
The rise in the PCE index suggests potential inflationary pressures, which can lead to expectations of tighter monetary policy. This often results in selling pressure on gold, impacting gold-backed ETFs like AAAU.
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