Precious Metals Preview: Gold Attempts To Break $1860 Mark

30 May 2022 , 09:08 AM

Gold is struggling to break beyond $1860 per ounce following a strong rebound last week. The yellow metal is hovering at $1856.16 as dollar pauses recent rally, supporting the dollar-priced bullion. The dollar index, which hit a two-decade high of 105.010 earlier in May was steady at 101.660 on Monday. US Personal Consumption Expenditure (PCE) data came in mixed for April, mostly downbeat, as the Core PCE Price Index, the Feds preferred measure of inflation, matched 4.9% YoY forecasts versus 5.2% prior. Further, Personal Income rose less than expected but the Personal Spending improved. Powered by Commodity Insights