Gold prices steady with PCE test in focus, copper slips on weak China PMIs
Investing.com-- Gold prices steadied in Asian trade on Friday, with traders remaining wary of the yellow metal before key U.S. inflation data that is likely to factor into the outlook for interest rates.
A string of Federal Reserve officials warned in recent weeks that the central bank had little confidence to begin trimming interest rates, amid sticky inflation.data- which is the Fed’s preferred inflation gauge- squarely in focus. The reading is due later on Friday and is expected to show inflation cooled slightly in April but remained well above the Fed’s 2% annual target range.
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