Gold XAUUSD Chart Technical Outlook Price Forecast: XAU/USD ends Q1 2024 at record highs
• Gold price hit all-time highs at $2,236 on Thursday to finish Q1 2024 with a bang.
• Gold price ignored a firm US Dollar amid subdued US Treasury bond yields, and a robust US economy.
• Gold price looks to $2,251 and US Core PCE inflation on Good Friday.
All eyes on US Core PCE inflation for next Gold price move
However, traders keenly await the US Personal Consumption Expenditures (PCE) Price Index due later on Friday to gauge the market’s pricing of a potential US Federal Reserve (Fed) interest rate cut in June.
Currently, markets price in about a 64% chance that the Fed will begin cutting rates in June, down from the roughly 70% chance seen at the start of the week. A slew of hawkish commentaries from Fed policymakers and their concerns about sticky inflation have dialed down expectations of rate cuts this year.
The US Dollar extended its last week’s late recovery and is set to finish near six-week highs on Good Friday. Thursday’s upward revision to t
