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macroJun 25, 2026, 11:10 PM

Gold slides below $4,050 on Fed rate hike bets after US PCE data

Gold prices fell to around $4,020 during early Asian trading as stronger US PCE inflation data reinforced expectations of a Federal Reserve rate hike. Traders are now looking ahead to the Michigan Consumer Sentiment Index for further direction.

XAUUSD

Gold (XAU/USD) extended its decline during Friday's Asian session, slipping to approximately $4,020 after dropping below the $4,050 threshold. The selling pressure followed the release of US PCE inflation figures, which bolstered market bets that the Federal Reserve will deliver another rate hike.

The precious metal has been under pressure as higher interest rates increase the opportunity cost of holding non-yielding assets like gold. Attention now turns to the upcoming Michigan Consumer Sentiment Index report, which could provide additional clues on the health of the US economy and influence rate expectations.

Source: FXStreet Forex News