On July 26th, Jinshi Data reported that the price of gold pumped on Friday, but it is expected to have a slight decline this week due to profit-taking and the generally negative sentiment in the commodity market. Traders still believe that the Fed will start cutting interest rates in September and are currently waiting for the release of the US June PCE data tonight. Ipek Ozkardeskaya, Senior Analyst at a Swiss bank, said in a report to clients: 'This data is expected to slow down slightly from 2.6% (YoY) to 2.5%, although we may see an acceleration in monthly data.' 'But overall, unless it's catastrophic, the Fed may hint at rate cuts in the fall at its meeting next week.'
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Analyst: As long as PCE data is not catastrophic, the Fed is expected to hint at a rate cut in the fall next week.
On July 26th, Jinshi Data reported that the price of gold pumped on Friday, but it is expected to have a slight decline this week due to profit-taking and the generally negative sentiment in the commodity market. Traders still believe that the Fed will start cutting interest rates in September and are currently waiting for the release of the US June PCE data tonight. Ipek Ozkardeskaya, Senior Analyst at a Swiss bank, said in a report to clients: 'This data is expected to slow down slightly from 2.6% (YoY) to 2.5%, although we may see an acceleration in monthly data.' 'But overall, unless it's catastrophic, the Fed may hint at rate cuts in the fall at its meeting next week.'