Gold Price Today: Why Is Gold Rising After Cooler US Inflation Data?
6 Articles
6 Articles
Future gold contracts closed on Wednesday (30) in light high, extending the movement seen on the eve, after consumer price index numbers (PCE), the Federal Reserve's preferred inflation measure (Fed, the U.S. central bank), came below expected. The weaker reading fed the bets of a US interest maintenance in October. At Comex, the New York Mercantile Exchange's (Nymex) metal division, future gold contracts with delivery for October closed at high…
The eagerly awaited US data has been released. Personal consumption expenditures, an indicator of inflation, rose 0.3% on a monthly basis and 2.6% on an annual basis. Preliminary non-farm payrolls figures came in above expectations at 90,000 in August. Following the release of this data, the dollar index...
At Comex, metal for December closed at 0.16%, at $4,186.70 per ounce-throy
US Data Boosts Gold Prices! Bad News for Those Expecting a Gold Rally, According to Dr. Sefer Humar.
Economist Dr. Sefer Humar, evaluating the rise in gold prices following US growth and inflation data, told Bengü Sarıkuş, Special News Chief of Tgrthaber.com, that a new narrative is needed for gold to reach new highs, and warned investors to be cautious.
Breaking news... US personal consumption expenditures (PCE) price index data came in below expectations. Following the data release, gold prices surged.
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