Gold (XAUUSD) Price Forecast: Core PCE Data May Trigger Fresh Gold Breakout

The anticipation is building in the Forex market as traders eagerly await the release of the Core PCE data, a key inflation metric that significantly influences Federal Reserve policies. Gold, traditionally seen as a safe haven during times of economic uncertainty, is currently positioned to potentially break out to a new high. Analysts predict that if the PCE data signals an increase in inflation, gold prices could soar to as high as $3800. This bullish trend is supported by a shifting sentiment within the Federal Reserve towards more aggressive measures in combating inflation, which tends to increase the appeal of gold as a hedge against the devaluation of fiat currencies.