The price of gold has experienced significant volatility following the release of the US Personal Consumption Expenditures (PCE) inflation data at 19:30 WIB. The reported inflation rate rose to 2.8%, exceeding expectations of 2.7% and the prior level of 2.6%. Initially, gold prices increased as higher inflation typically boosts demand for safe-haven assets. However, this uptick proved short-lived as the market began to anticipate a policy response from the Federal Reserve, causing gold to revert to its gradual uptrend.
The increase in inflation above expectations has sparked speculation that the Federal Reserve might maintain high interest rates for an extended period. This situation could bolster the US dollar, which generally puts downward pressure on gold prices. However, global uncertainty has risen after speculation emerged that US President Donald Trump might impose new tariffs on the automotive sector, potentially worsening risk sentiment and prompting renewed demand for gold as a hedge.
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Looking ahead, the movement of gold will be influenced by the Federal Reserve’s monetary policy decisions and global geopolitical developments. If inflation continues to rise and the Fed adopts a more hawkish stance, gold could face downward pressure. Conversely, if economic uncertainty increases, gold prices may continue their ascent. Investors are advised to keep a close watch on market developments to devise appropriate strategies.
