Gold Price Forecast: XAU/USD holds below $2,350, geopolitical risks remain in focus

Gold price trades softer around $2,325 in Monday’s early Asian session. The US PCE price index was not sufficient to prompt the Federal Reserve rate cut, weighing on the yellow metal. Israeli Prime Minister begrudgingly accepted the US President's plan for a ceasefire in Gaza on Sunday. Gold price edges lower to $2,325 on Monday during the early Asian trading hours.

Meanwhile, the Core PCE, excluding volatile food and energy, advanced 0.2% MoM in April as compared to a 0.3% gain in March. On an annual basis, the core PCE price index climbed 2.8% for the third consecutive month. On Sunday, Israeli Prime Minister Benjamin Netanyahu's administration reluctantly agreed to President Biden's proposal for a Gaza cease-fire. The negotiations take place as theattack in Rafah continues after intensive Israeli airstrikes over the weekend, per the BBC.

Source: Digital Coin News (digitalcoinnews.net)

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