# Gold gains 1% on dollar weakness as focus turns to US PCE data

> Gold gained about 1% as the dollar weakened 0.2% against a basket of currencies and 10-year yields fell to about 4.28%. Investors still expected around two Fed rate cuts this year, though the Fed projected only one.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/29641-gold-gains-1-on-dollar-weakness-as-focus-turns-to-us-pce-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and lower yields improve the relative price of dollar-denominated commodities for foreign buyers, a modest supportive factor for feed prices ahead of US PCE inflation data.

## Read by commodity

- DXY: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/gold-prices-lingers-near-two-week-low-traders-eye-us-inflation-data-2024-06-27/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.