PCE Index Today: Market Impact and Gold Support Levels

The scenario for the PCE index today at 4 PM is as follows: If the data release is in line with expectations or mixed, trading may not be attractive, although details in the data can be important. For the stock market, a lower than expected PCE index can lead to increased consumer spending and income components, resulting in market gains. Conversely, a higher than expected PCE index can reduce these components, potentially causing declines. Regarding the US dollar, an above expectations PCE index might boost consumer spending and income, strengthening the dollar. A lower PCE index could weaken it. For gold, a lower than expected PCE index could cause a secondary downward wave, with potential drops towards 3210 or 3250, especially given recent gold declines below 3300 without strong upward momentum. On the other hand, a higher than expected PCE might trigger a corrective upward move in gold. Investors should be cautious; gold's movement could fluctuate significantly based on the data release. Protective supports are at 3250, 3209, 3155, 3120, 3104, 3055, 2972, and 2957. If the data is weak, gold could rise, but below 3300, the upward trend might weaken, so proper risk management and support levels should guide buying decisions.