Gold Prices Dip Below $3,300 as USD Gains Traction Ahead of US PCE Report
Gold prices (XAU/USD) faced challenges on Friday, struggling to maintain momentum after a brief recovery from earlier lows. The price dipped below the $3,300 mark, attracting fresh selling pressure. This movement comes amid a strengthening US Dollar, which regained traction following recent fluctuations. Traders are particularly focused on the upcoming US Personal Consumption Expenditures (PCE) report, which could provide critical insights into inflation trends. As the market awaits this pivotal data, gold traders may need to strategize carefully given the current volatility and potential downturns in precious metal prices.