The price of gold continues to weaken below $ 3,300, updating its monthly minimum before the US PCE data.

• The price of gold collapses to a new monthly minimum and seems prepared to register strong weekly losses.
• Betting for a Fed rates cut and a bassist USD are little to support the Xau/USD or stop the fall.
• Operators expect the publication of the US Personal Consumption Expenditure Index (PCE) for a new directional impulse.

The price of gold (Xau/USD) extends its constant intra-decrease during the first half of the European session on Friday and falls to the area of ​​3,283-3.282 $, or a new monthly minimum in the last hour. Optimism about the high fire between Israel and Iran continues to support the positive mood of the market, which, in turn, is considered to undermine the demand for this safety refuge raw material. Apart from this, the fall could also be attributed to a certain repositioning before the key US inflation data.

The US Personal Consumption Expenditure Index (PCE) is scheduled for publication later today and should provide clues on the Federal Reserve Rate (Fed) traches path. This, in turn, will play a key role in the influence of American dollar price dynamics (USD) and will provide a significant impulse to the price of gold, which does not yield. Meanwhile, concerns about the independence of the Fed and the bets for feat cuts keep the USD depressed about a minimum of several years, although it fails to support the Xau/USD couple.

What moves the market today: the gold -price seller remains unchanged in the middle of a positive risk tone

• The third and final estimate of the Department of Commerce published on Thursday showed that the US economy contracted more than deemed previously at the beginning of 2025, due to moderate consumption and tariff -related interruptions. In fact, the US Gross Domestic Product (GDP) fell to an annualized rate of 0.5% during the period from January to March, a more pronounced fall than 0.2% reported in the second estimate.
• A separate report published by the US Labor Department showed that the number of Americans who requested unemployment benefits for the first time fell by 10,000 to 236,000, seasonally adjusted, for the week that ended on June 21. However, continuous requests increased by 37,000 to 1,974 million for the week ending on June 14. This marked the highest level since November 2021 and suggests a weak hiring environment.
• The data fed speculations that the US unemployment rate could increase at least 4.3% in June from 4.2% in May. This could force the Federal Reserve to resume its cycle of rate cuts in July and further reduce indebted costs by the end of this year. The prospects drag the US dollar at its lowest level since March 2022 and could continue to provide some support for the price of gold, which does not yield.
• Investors now expect the publication of the US Expenditure Price Index (PCE) of the US, scheduled for later this Friday, to obtain more clues on the path of feat cuts of the Fed. A surprisingly stronger fact would validate the waiting approach and see of the Fed regarding the feat cuts and strengthened the USD.
• In fact, Powell reiterated this week that the Fed is well positioned to wait to cut interest rates until it has a better control over the impact of elevated tariffs on consumer prices. The comments caused new criticisms of the president of the USA, Donald Trump, who has been asking for lower interest rates. In addition, the reports suggest that Trump was considering appointing Powell’s successor for September or October.
• Development feeds concerns about the possible erosion of the independence of the Fed, which should limit any immediate positive reaction of the USD to the crucial inflation data. This, in turn, suggests that the least resistance path for the Xau/USD torque is upwards and any additional fall could continue to be seen as a purchase opportunity.

The rupture of gold price below the 3,300 $ brand supports the case for an additional depreciation movement

From a technical perspective, an intradic landslide below the simple mobile average (SMA) of 200 periods in the 4 -hour graph could be seen as a new trigger for the bassists of the Xau/USD in the context of this week’s break through an ascending channel in the short term. Since the oscillators in the daily chart have begun to gain negative traction, the price of gold could accelerate the fall to the 3,245 $ region before eventually falling to the horizontal support of 3,210-3,200 $ and to the area of ​​$ 3,175.

On the contrary, the area of ​​3,324-3.325 now seems to act as an immediate obstacle before the maximum night oscillation, around the 3,350 region. This is followed by the rupture point of the trend channel support, around the region of 3,368-370 $, which should limit any additional gain for the price of gold. However, a sustained strength beyond the latter could allow the XAU/USD to recover the 3,400 $ brand. A shopping monitoring would deny the negative perspective and change the bias in favor of the bulls.