PCE report sparks gold slide, analyst warns Fed rate cut could exacerbate losses

On Friday, August 30, 2024, gold saw a drop in value, coinciding with the US Commerce Department’s release of the Personal Consumer Expenditure (PCE) price index data. PCE rose 2% in July, perfectly in line with market expectations. During the day, gold hit a low of $2,495, but later bounced back, surpassing (…)