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Pre Session Commentary - Detailed News

Precious Metals preview: Gold Staying Flat Ahead Of US PCE Data
27-Mar-24   09:12 Hrs IST

COMEX Gold prices are staying flat at $2177.40 an ounce in early Asia on Wednesday tracking broad strength in dollar overseas, cautiously awaited a key US inflation reading that could influence the outlook for Federal Reserve monetary policy ahead. The crucial US PCE price index report, which is the Fed?s preferred inflation gauge is due to be released on Friday. Meanwhile, data reported by the Federal Housing Finance Agency (FHFA) in January saw a slight dip of 0.1%. The US Census Bureau reported that Durable Goods Orders increased by 1.4% on month in February, outperforming the consensus of 1.1% and showing a significant improvement from the previous drop of 6.9%.

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