Gold prints four-week high on soft US inflation data

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• Gold price climbs over 0.50%, reaching $2,046, as Core PCE report supports continued disinflation trend.
• US Treasury yields fall, enhancing Gold’s appeal, with market adjusting rate cut expectations for June.
• Economic indicators including Initial Jobless Claims and home sales data further shape monetary policy outlook.

Gold price rose more than 0.50% in Thursday’s North American session after the release of the Federal Reserve’s preferred gauge of inflation, the Core Personal Consumption Expenditure (PCE) Price Index, was aligned with estimates. The data confirmed the disinflationary process continues, triggering a drop in US Treasury bond yields, which correlate inversely to precious metals prices. Consequently, the price of the yellow metal surged, and the XAU/USD traded at $2,046.