Gold Going Down Read Caption
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Gold price (XAU/USD) struggles to capitalize on its modest gains registered over the past two trading days and edges lower on the first day of a new week, albeit the downside remains cushioned. Market expectations that the Federal Reserve (Fed) will delay cutting interest rates were reaffirmed by the release of the US Personal Consumption Expenditures (PCE) Price Index on Friday, which, pointed to still sticky inflation. Adding to this, a generally positive tone around the equity markets turns out to be key factors undermining demand for the safe-haven precious metal.
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