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Gold is expected to decline this week, with the market focusing on tonight's PCE.
Golden Ten Data reported on May 30 that gold futures prices fell due to the strengthening of the US dollar. Although gold prices are still up more than 22% year-to-date, they are expected to fall this week. Gold appears to be under pressure as the US dollar strengthens as another safe-haven asset in the face of market volatility. For now, the focus has shifted to the personal consumption expenditures (PCE) data, which is scheduled to be released later on Friday. The inflation report, which is favored by the Fed, is expected to show a slowdown in price growth last month, opening up room for the Fed to ease monetary policy. In general, falling interest rates increase the attractiveness of non-interest-producing gold.