Gold Steadies Above $4,000 as US PCE Data Eases Fed Rate-Hike Bets

Gold (XAU/USD) is steadying above the $4,000 level on Friday, supported by a softer US dollar and declining Treasury yields. The move follows the release of the US Personal Consumption Expenditures (PCE) inflation report, which broadly met market forecasts.

The data has reduced expectations of a near-term interest rate hike by the Federal Reserve, taking pressure off the dollar and boosting non-yielding assets like gold. Lower yields also make gold more attractive relative to bonds.

Traders are now watching for further cues on the Fed's policy path, with gold maintaining its elevated stance above the psychologically important $4,000 mark.