Gold prices consolidate near record highs
Gold prices (XAU/USD) enter a phase of bullish consolidation at the start of the European session, hovering within a narrow band around the $2,260 to $2,265 region, marking a new record set this Monday. Investors now seem convinced that the Federal Reserve (Fed) will begin cutting rates in June, a sentiment reaffirmed on Friday by the US Personal Consumption Expenditures (PCE) Price Index. Additionally, geopolitical risks stemming from the prolonged conflict between Russia and Ukraine, as well as recent tensions in the Middle East, provide further support to the precious metal as a safe-haven asset
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Price is sticking to the target
