Gold rises on firm Fed rate cut projections, US core PCE inflation eyed

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Gold price (XAU/USD) soars to $2,190 in Wednesday’s late European session amid multiple tailwinds.

Gold price jumps higher as expectations that the Fed will cut interest rates in June remain firm. The Fed appears to be confident that inflation is easing toward the 2% target. Investors await the US core PCE inflation for fresh guidance. Gold price soars to $2,190in Wednesday’s late European session amid multiple tailwinds. The main driver is that expectations for the Federal Reserve reducing interest rates from the June meeting remain firm.

But before that, investors will focus on the speech from Fed Governor Christopher Waller, who will speak at 22:00 GMT about the US economic outlook before the Economic Club of New York. Investors will keenly focus on fresh guidance on interest rates. Technical Analysis: Gold price jumps to$2,190 Gold price jumps to$2,190 amid multiple tailwinds. The precious metal is aiming to recapture the all-time highs slightly above $2,220.

 

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