Gold price holding steady gains below $1,900 following muted U.S. PCE inflation data

Gold price holding steady gains below $1,900 following muted U.S. PCE inflation data

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!

( Kitco News ) – Gold prices remain under $1,900 an ounce but holding on to some gains as inflation pressures rise in line with expectations.

Friday, the Department of Commerce said that its Core Personal Consumption Expenditures Index, increased 0.2% in September, up from August’s 0.3% increase; the data was in line with economists’ consensus forecasts.

For the year, inflation is up 1.5%; however the rise was slightly weaker than expected.The gold market is not seeing much reaction to the latest consumer inflation data. December gold futures last traded at $1,881.80, up 0.74% on the day.While inflation remains fairly muted, the report noted that consumers saw their income rise after significant drop in August. The report said that […]

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet