Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More
Home » Commodities News » Gold holds near 2 1/2-week peak with focus on US PCE data

Gold holds near 2 1/2-week peak with focus on US PCE data

Written by Miroslav Marinov
Miroslav Marinov
Miroslav Marinov, a financial news editor at TradingPedia, is engaged with observing and reporting on the tendencies in the Foreign Exchange Market, as currently his focus is set on the major currencies of eight developed nations worldwide.
, | Updated: August 28, 2025

Spot Gold held just below a 2 1/2-week peak of $3,399.36 on Thursday, as market players awaited the US PCE inflation data for fresh clues on the Federal Reserve’s monetary policy trajectory.

At the annual symposium in Jackson Hole, Federal Reserve Chair Jerome Powell hinted at a possible rate cut in September, as risks to the job market were rising.

New York Fed President John Williams also said a rate cut was being considered, echoing Powell’s remarks.

Markets are now pricing in about an 89% chance of a 25 basis point rate cut in September, compared to 82% a week ago.

Gold has also drawn support from political and institutional uncertainty between the Trump administration and the Fed.

US President Donald Trump said in a social media post this week he would fire Federal Reserve Governor Lisa Cook over allegations of mortgage fraud. But, Cook’s lawyer vowed to challenge the decision in court.

Spot Gold was last down 0.03% on the day to trade at $3,396.57 per troy ounce.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Gold extends losses on Fed stimulus outlookGold extends losses on Fed stimulus outlook Gold extended its Friday losses amid speculations that the Federal Reserve might trim its monetary easing program after a policy maker said last week that a small taper may occur at FOMCs October 29-30 meeting. Silver and palladium advanced, […]
  • Apple after China Mobile’s customersApple after China Mobile’s customers Apple is targeting the worlds biggest market of potential iPhone customers - those of China Mobile. Shares hanging at $395, Apples shares have lost 44% from an all-time high recorded last September. It market cap also has just been surpassed […]
  • Ford eyes $50 million pre-tax gain in Q4 from pension and OPEB plansFord eyes $50 million pre-tax gain in Q4 from pension and OPEB plans Ford Motor Co (F) said on Monday that it expected to record a pre-tax remeasurement gain in its fourth-quarter results of nearly $50 million associated with the company's pension and other postretirement employee benefits (OPEB) […]
  • Citigroup Inc.’s share price up, announces a 96% decline in profit, reaches a $7-billion mortgage-bond settlementCitigroup Inc.’s share price up, announces a 96% decline in profit, reaches a $7-billion mortgage-bond settlement The third-largest bank in the U.S. - Citigroup Inc. made a statement today, posting its profit for the second financial quarter that surpassed the analysts projections, after excluding the 3.7 billion dollars in expenses associated with a […]
  • BNP Paribas SA share price up, profit hit by record fineBNP Paribas SA share price up, profit hit by record fine BNP Paribas SA, Frances largest listed bank, posted its second ever quarterly net loss today, reflecting a record US fine, to which BNP agreed earlier this year. The French lender is the latest in a number of banks to report the impact of US […]
  • Forex Market: USD/CAD daily trading outlookForex Market: USD/CAD daily trading outlook Yesterday’s trade saw USD/CAD within the range of 1.3034-1.3220. The pair closed at 1.3209, soaring 1.25% on a daily basis. It has been the 30th gain in the past 57 trading days and also the steepest one since July 15th 2015, when it surged […]