Gold Slips Below $3,300 to Two-Week Low Ahead of Key US Inflation Data
On June 27, gold prices fell to a new two‑week low, dropping below $3,300. The fall comes as investors feel more upbeat about riskier assets, pushing them away from safe-haven buys like gold. This shift follows easing tensions in the Middle East and progress in US–China trade talks
Spot gold is now near $3,297 per ounce, marking a weekly drop of about 2.2%. US gold futures also slid, around 1.2% lower .
Many traders are watching the upcoming US PCE Price Index release. This important inflation report could give clues about whether the Federal Reserve might cut interest rates later this year.
The US dollar remains subdued, hovering close to a three‑and‑a‑half‑year low, which slightly helps gold. But overall, the positive tone in markets is clearly weighing on gold .
Impact:
Markets might see gold dip further if the PCE data shows easing inflation. But a surprise rise could possibly reverse losses and support the metal again.