What's Up With The Gold Movement During The Asian Session? - Kakiforex.com - Financial Market Media No. 1 in the World What's Up With The Gold Movement During The Asian Session? What's Up With The Gold Movement During The Asian Session?
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June 28, 2021

What's Up With The Gold Movement During The Asian Session?

 The start of trading earlier in the week saw the volatile movement of gold prices amid the strengthening of the US dollar in the Asian session.


The gold -priced metal rebounded around $ 1,779 an ounce, after recording a significant decline at the beginning of the Asian session to hit $ 1,770 an ounce.


However, concerns over Federal Reserve (Fed) action backed by the personal consumption expenditure price index (PCE) caused gold price trading to stagnate.



The PCE index excluding volatile food and energy components, missed expectations of an increase of 0.6%, rising only 0.5% after rising 0.7% in April.


Despite the decline, investors remain confident that the US central bank will tighten its monetary policy as signaled at previous FOMC policy meetings.


The next market focus was on the publication of the US NFP jobs report which is expected to show higher growth in June after posting a disappointing reading in the previous month.