Gold price holding steady following weak consumer inflation data

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( Kitco News ) – Gold prices are holding some gains as consumer inflation pressures were weaker than expected last month

Thursday, the U.S. Labor Department said its U.S. Consumer Price Index was unchanged in October, after a 0.2% rise in September. The data were weaker than consensus forecasts, calling for a rise of 0.1%

The report said that annual inflation data rose 1.2%, missing expectations calling for a 1.3% rise.Stripping out volatile food and energy prices, core inflation also did not rise last month, following September’s rise of 0.2%. Economists were expecting to see a 0.2% rise.For the year, inflation is up 1.6%; economists were expecting to see a 1.7% rise.December gold futures are seeing little reaction to […]

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