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Gold extends losses as trade deal optimism continues to boost demand for risk assets
Gold (XAU/USD) is on the defensive heading into the weekend, pressured by a combination of mixed US data and improving global risk sentiment. The precious metal is trading below $3,300, down nearly 2% on the day, as safe-haven flows continue to unwind. Friday’s core PCE inflation print showed a modest uptick in May, reinforcing the Fed’s cautious stance and creating a murkier outlook for the timing of rate cuts. Meanwhile, the University of Michigan Consumer Sentiment Index ticked higher in June, while inflation expectations softened, pointing to stable consumer outlooks. The release of the core Personal ... (full story)