Analyst: Gold trend next week highly data-dependent, beware of sell-off risk

CoinFeed June 20 news, according to Jinshi reports, market analysts say gold is expected to maintain a volatile trend next week as investors await the release of the US core Personal Consumption Expenditures (core PCE) price index for clues on the Federal Reserve's interest rate path. Stephen Innes, managing partner at SPI Asset Management, said: "With the Fed now appearing more comfortable with the evolving situation and increasingly sensitive to incoming inflation data, every major economic release will have an impact, but core PCE will be the key event for gold and interest rate markets, making next week highly data-dependent." Innes also stated that if the inflation reading is stronger than expected, it could boost the dollar, push up yields, and increase the risk of gold testing the $4,000 per ounce level. Gold investors should prepare for heightened volatility and be wary of potential further sell-offs.