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Here is the update on XAUUSD news today, March 15, 2024. Gold prices (XAU/USD) continued to be under pressure on Thursday due to the reaction to the higher-than-expected U.S. Producer Price Index (PPI), indicating persistent inflation. This has led the market to anticipate an earlier rate cut by the Federal Reserve (Fed), resulting in rising U.S. Treasury bond yields and a strengthening U.S. Dollar (USD).
However, the market is still considering the possibility of a rate cut by the U.S. central bank in June, which helped push gold prices up to $2,150. Nevertheless, gold movements remain limited as traders await further clarity on Fed interest rate policy. The current market focus is on next week’s FOMC meeting.
Market Movers Summary: Gold prices fluctuate amid fundamental signals.
- New U.S. data shows rising producer prices, fueling speculation about Fed interest rates.
- The U.S. Producer Price Index rose above expectations, while unemployment claims decreased.
- U.S. retail sales show a slowdown despite rising inflation.
- The market considers the possibility of a Fed rate cut.
- Investors are cautious of Fed signals, while geopolitical issues affect the market.
- Russia is moving nuclear weapons to Belarus, increasing tensions with NATO.
- Traders are anticipating U.S. economic data while focusing on the upcoming FOMC meeting.
Warning!
That’s the news regarding “XAUUSD Today: March 15, 2024 - Gold Prices Breach Defensive Stronghold?” This analysis is based on fundamental and technical views from reliable sources and is not intended as advice or a solicitation. Always remember that this content aims to enrich readers' information. Always conduct your independent research regarding other forex information to use as a reference in your trading.
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