Daily Market Report
➢ Gold (XAU/USD) climbs above $3,350, hits 1-week high in early European session.
➢ US PCE data signals cooling inflation, boosting hopes for Fed rate cuts (Sept & Dec).
➢ Weaker USD supports gold rally; non-yielding gold benefits from falling yields.
➢ Geopolitical tensions (Russia-Ukraine drone strikes, Middle East conflict, US-China trade
risks) drive safe-haven demand.
➢ Core PCE drops to 2.5% YoY, lowest since early 2021.
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