NewsMV
PCE inflation data kept the possibility of a September Federal Reserve rate hike in play, and gold (GC) declined on the session.
The reading preserved the Fed's optionality on further tightening rather than closing the door, and for a metal whose setup depends on the rate path, that distinction is what moved the tape.
The PCE index is the inflation measure the Federal Reserve has said it weights most heavily when calibrating policy.
A print that leaves September live means the Fed retains room to raise rates again, and that reality runs directly against gold.
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