Gold Prices Brush Off Inflation Rise, Continue to Rise on Fed Pause Bets

Gold prices remain unaffected by the in-line 3.5% rise in core Personal Consumption Expenditures (PCE) inflation, as they continue to trade below critical resistance at $2,050 an ounce. The latest inflation data has not significantly impacted interest rate expectations, with markets still pricing in a rate cut in the first quarter of next year. Consumer income and spending also rose in line with expectations in October.