XAUUSD

The precious metal has turned upward due to expectations of interest rate cuts triggered by weak US data released yesterday. Today will be the most critical day of the week for gold; the US GDP and especially the Core PCE inflation data closely monitored by the Fed will determine the main direction of gold. Data indicating a cooling in inflation or a slowdown in growth has the potential to serve as a strong catalyst for a rise in gold, which is an asset without interest.