Gold Holds Bearish Bias Near November 2025 Lows, Awaits US PCE Data

Gold extended its decline during the Asian session on Thursday, sliding back toward levels not seen since November 2025. The precious metal continues to exhibit a bearish bias as market participants look ahead to the release of US Personal Consumption Expenditures (PCE) price index data.

Despite receding expectations that the Federal Reserve will implement additional rate hikes, gold has been unable to find sustained buying interest. The data-dependent stance of the Fed keeps the dollar and yields in focus, with softer PCE figures potentially offering a near-term reprieve for the metal. However, the prevailing technical setup suggests further downside risk remains if key support levels give way.