Gold Steadies as Easing Us-Eu Trade Tensions Cap Gains

Us consumer confidence improved in May

(Updates for the Asia Mid-Day Session)

May 28 (Reuters) – Gold Steadied on Wednsday, as Investors Bough on the Dip, ALTHOUGH GAINS WERE CAPPED ON EUS Us -Eu Trade Tensions, with the Market Now Awaiting the upcoming us con Expenditures (PCE) Report for Interest Rate Clues.

Spot Gold was flat at $ 3,297.19 an out, as of 0413 gmt. Bullion Fell more than 1% in the Previous Session.

Us Gold Futures Were Down 0.1% to $ 3,296.

In the latest movie, us president donald trump backed down from Block.

“Gold’s Dip Below $ 3300 Saw It Atracting Some Buyers. However, The Broader Market is Still Feeling Generally upbeat now that the us-eu trade tensions have easeed, who is copying the exerted Gold’s UPSide Run for Now, “Said Tim Waterr, Chief Market Analyst at Kcm Trade.

“If support in the $ 3,250- $ 3,280 region continues to hold, then gold is well-planted for potentially another run towards $ 3,400 If Risk Appetite Fades.”

The market is now awaiting us pse data for april, due to friday, to assess the federal reserve’s potential rate cut training.

Meanwhile, US consumer confidence rebounded in may, ending a five-month slide, supported by a temporary truce in the US-china trade war, according to data.

The fed has kept its policy rate unchanged at 4.25% -4.50% SINCE December, as Officials Pause for More Clarity on the Economic and Price Impact of Trump’s tariffs.

“More decisive movies in gold one way or the other may need to wait until we get a read on the nvidia results and us core pce on Friday,” Waterr said.

Spot silver was steady at $ 33.28 an out, platinum was unchanged at $ 1,079.72 and palladium fell 0.3% to $ 975.14.

(Reporting by Anmol Choubey and Brijesh Patel in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Philips)