Post #15432

Gold Stalls Ahead of PCE: Breakout or Pullback Next? Gold remains elevated just shy of $4,200/oz, holding near the upper bound of its recent range. Buyers continue to defend higher lows. Gold is quieter today as global equities catch a bid and safe-haven demand cools off. Traders are largely sidelined ahead of tomorrow’s PCE inflation report and next week’s FOMC meeting, which will set the tone for metals into year-end. Markets now price an 89% probability. Lower rates typically support gold, but with PCE still ahead, buyers are waiting for confirmation. • A soft PCE + dovish Fed → tailwind for gold, potential breakout above $4,200 • Strong data or a hesitant Fed → pullback as risk appetite stays elevated Until then, gold trades in anticipation — not conviction. - Alan