Gold Price Forecast: XAU/USD remains under pressure below $1,960, US ISM PMI eyed – by lilyfinancial XAUUSD Gold Commodities
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Chinese authorities announced additional policy guidelines on Monday. Still, no specific plans to bolster the faltering economy and domestic consumption, leaving investors wanting as lackluster activity data increased pressure on officials to act. On the other hand, the evidence of easing underlying price pressures in the United States might convince the Fed to ease its hawkish stance. That said, the Personal Consumption Expenditures Price Index decreased from 3.8% in May to 3% in June, below the market's expectation of 3.1%. The Core PCE Price Index came in at 4.1% annually, down from 4.6% in May and below market expectations of 4.2%.
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