Here is the update on XAUUSD today, March 26, 2024. Gold prices (XAU/USD) remain stable ahead of the European session today, supported by the more accommodative policy signaled by the Federal Reserve (Fed). Speculation about potential interest rate cuts in the U.S. and geopolitical tensions have put the dollar (USD) in a defensive position. Traders are awaiting U.S. economic data for momentum during the North American session, while market focus remains on the upcoming release of the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE) data on Friday.

Daily Market Movers Summary: Gold prices are supported by expectations of interest rate cuts from the Fed and a weakening U.S. dollar.
  1. Traders estimate a 70% chance of an interest rate cut by the Federal Reserve in June, keeping the U.S. dollar defensive and boosting gold prices.
  2. Several Fed officials have expressed concerns about persistently high inflation and strong U.S. economic data, limiting the dollar's decline and gold's rise.
  3. Atlanta Fed President Raphael Bostic anticipates a slowdown in the U.S. economy and inflation, with only one rate cut expected this year.
  4. Chicago Fed President Austan Goolsbee supports three rate cuts this year, contingent on progress in inflation.
  5. Fed Governor Lisa Cook noted a decrease in inflation but emphasized ongoing uncertainty, while the labor market remains strong.
  6. Traders are looking forward to U.S. economic data on Tuesday for additional momentum.
  7. Market focus remains on the U.S. Personal Consumption Expenditures (PCE) Price Index data, a key inflation measure monitored by the Fed, scheduled for release on Friday.
  8. Geopolitical risks, such as the Russia-Ukraine conflict and uncertainty in the Gaza Strip, may support gold prices (XAU/USD).

Warning!

That concludes the news regarding "XAUUSD Today: March 26, 2024 - Gold Holds Above $2,170 as USD Weakens." Today's analysis of XAUUSD is based on insights from trusted fundamental and technical perspectives and is not intended as advice or solicitation. Always remember that this content aims to enrich readers' information. Always conduct independent research on other forex information as a reference for your trading.

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